WHAT TYPES OF PROPERTY ARE TRANSFERRED OUTSIDE THE WILL?
There are many assets that are passed on to beneficiaries where the transfer has nothing to do with the will, including:
The advantages of transferring assets outside the will allows for greater simplicity and reduction in the value of the estate for the purpose of calculating the fees to file a probate application.
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- Real estate owned as "joint tenants" passes directly to the surviving joint tenant (the transfer will need to be registered by a lawyer)
- Life Insurance proceeds passing to a named beneficiary
- RRSP contributions can be "rolled over" to a named beneficiary spouse
- Canada Pension Plan
- Property transferred before death
The advantages of transferring assets outside the will allows for greater simplicity and reduction in the value of the estate for the purpose of calculating the fees to file a probate application.
Call a Lawyer Now to Book an Appointment 905-273-3322