WILLS & ESTATES FINAL EXAM UPDATED ACTUAL QUESTIONS AND CORRECT ANSWERS

WILLS & ESTATES FINAL EXAM UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS

Question:
1. When someone dies, their estate needs to be administered. The assets need to be transferred. How does
someone start this process?
Answer:
a "representation grant" of some sort is needed. If an executor does not renunciate/reject their role as exec,
they must get the will probated by starting with a grant.

Question:
2. What is a Grant?
Answer:
A grant is just an 'ok' from the court, appointing either the executor or administrator as the personal
representative. It gives them the go-ahead to distribute the assets either according to the will (if there is a
will) or according to the rules of intestacy(if there is no will

Question:
3. 3 Types of Representation Grants
Answer:
1. Grant of Probate
2. Grant of Administration
3. Grant of Administration with Will Annexed

Question:
4. What is a Grant of Probate
Answer:
Probate is the court-based procedure used to establish the will and appoint the personal representative.
The grant is issued at the end of this process.

Question:
5. What is a Grant of Administration?
Answer:
Similar to Probate
the document issued by the court when there is no will, giving the person appointed as administrator the
legal authority to deal with the estate

Question:
6. What is a Grant of Administration with Will Annexed?
Answer:
The type of grant necessary when the Will does not name/appoint and executor. This grant will appoint a
personal representative to manage the estate according to the Will

Question:
7. When a Representative Can Use the Grant

, Answer:
The personal representative must wait 210 days after the issue of the grant, and then they can distribute the
assets (if no issues have come up in the meantime).

Question:
8. Why do we need a Grant?
Answer:
For most assets, the entity who the transfer will effect will require it.
(For example, if there is real property, the Land Title Office will require a representation grant before the
land is transferred. Banks will require it before they transfer assets in a bank account)

Question:
9. When do you NOT need a Grant? Name the 3 scenarios you WONT need to do a probate/apply for a
grant
Answer:
If the assets can be transferred without one.
The only time a will does not need to do a probate/grant is:
1. if the estate consists only of shares in a private company
2. if the estate consists only of motor vehicle(s) not exceeding $25,000
3. Estate consists of only Canada Savings Bonds up to certain amount

Question:
10. What are Parallel Wills?
Answer:
if someone held valuable shares in a private company that didn't require probate, they could make a
separate will just for those shares. That way, probate fees will not be payable on those shares.

Question:
11. What is the Overview of a Typical Probate Application?
Answer:
1. Personal rep completes pre-application duties (gathers info)
2. Personal Rep gives notice to everyone who is entitled
3. Personal Rep waits a period of time before submitting application to court
4. application includes
- form indicating type of grant being applied for/info about deceased and applicant
- certificate of will notice search an affidavit sworn by personal rep
- the OG will an affidavit listing all assets/liabilities of deceased
- affidavift that everyone was notified
- payment of probate fees
5. if Grant is unopposed, grant will be given and assets can be transferred

Question:
12. What 3 things does the executor need to give the lawyer in a probate action?
Answer:
1. the original will (or a certified true copy of the will if OG will is lost formt he lawyer who made the will)
2. The Will Notice Search (document you get after you register the will)