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Tom B.
Tom B., Barrister & Solicitor
Category: Canada Law
Satisfied Customers: 2263
Experience:  25 years in practice
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My mother-in-law just passed away on Jan 15, 2016, here in

Customer Question

Hi: My mother-in-law just passed away on Jan 15, 2016, here in Victoria. She has a fairly large estate (around $500,000), with ALL her money invested in Canadian mutual funds. She was living in a care home here in Victoria when she died. Three years ago she and her husband sold a home here in Victoria, and proceeds were put into mutual funds by her son-- a joint account with my mother-in-law, her husband and their son. My mother in law's husband died two years ago, and as a result of HER death two days ago, their son is now last survivor, executor of her Will and in charge of dealing with her estate.
She owns no property and has no debts.
There are 5 benificiaries in her Will--- me (son in law), her son, and 3 grandchildren. We all live here in Victoria, B.C., and I know we have to file a "last" tax return for last year/this year, but we are wondering what we have to do now, and how long it will take to receive our inheritances. We believe there should be no cause for probate, as her money is all in one place, held in the the Royal Bank of Canada, and there will be contestation of any clauses in the will among the five of us.
Thank you for taking these questions.
Submitted: 1 year ago.
Category: Canada Law
Expert:  Debra replied 1 year ago.

Did you mean to say there will not be any contestation?

Customer: replied 1 year ago.
that is correct...we are a very close family, all living in Victoria, and ALL of my mother-in-law's non-monitory estate has been looked after. We all have a copy of her Will and we all know how she wanted her estate divided up. Jim
Expert:  Debra replied 1 year ago.

Have you spoken to the bank about simply having the sibling who is on title jointly withdrawing all the money?

Customer: replied 1 year ago.
Is this as simple as my brother-in-law (executor and joint owner of this mutual fund investment with his now deceased mother) to "sell' the investment, wait for the proceeds to be deposited in the joint account, and then for him to disperse the estate as per the Will?.....taxes here??...thanks, Jim
Customer: replied 1 year ago.
Is this as simple as my brother-in-law (executor and joint owner of this mutual fund with his now deceased mother) to sell the investment, wait for the proceeds to be deposited into their joint account, and then for him to disperse the estate in accordance with the Will?....taxes, capital gains etc., to be determined with the final tax filing for 2015/2016?...thanks, Jim
Expert:  Debra replied 1 year ago.

I am not able to speak to you on the telephone. I know the site offers thid service but the rules of my law society prohibit me from ispeaking to you on the telephone because you are not my client. Presumably the law in the US is different.

What I need to know is whether the bank is going to protest and freeze the account if you do not probate the estate. Sometimes banks do that even when there are joint account titleholders.

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