Summary:

In this episode, we explore the complexities of administering estates with assets spread across multiple provinces or countries. With an increasing trend of people owning property in different locations, it's essential for executors to understand the considerations and processes involved. From determining where probate should be filed to navigating legal requirements in each jurisdiction, we delve into the steps and challenges of managing such estates.

Key points:

• The importance for executors to be aware of estate assets outside the province of residence.
• The role of the executor in obtaining the grant of probate and gaining authority over estate assets.
• Probate is typically required for real property and significant financial assets in a jurisdiction.
• Planning strategies, such as trusts or joint ownership, can help minimize probate fees.
• Accurate valuation and documentation of assets are essential for tax purposes and asset distribution.
• The importance of professional expertise in each jurisdiction for effective estate administration.

Hosts:
Jenna Carvalho
The smartest way to choose an executor.
Guardian Estate Company
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Gordon VanderLeek
Give your family a legacy of protection - Wills, Estates and Trusts.
VanderLeek Law
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