Dealing with Disclaimed Inheritances in Ontario
Published on 29 August 2022, 07:22:56 AM
Probate headaches ahead: a benefactor has renounced (refused to accept) disclaimed inheritances in an Ontario Will. What is an estate trustee to do?
Disclaimed inheritances likely won’t be the only pressure you’ll face as a newly appointed executor, personal representative, or estate trustee. As an aside, the terms essentially mean the same thing — you’ve agreed or applied to distribute a deceased’s estate.
Disbursing Wills in Ontario
It’s on your shoulders now to:
- arrange the funeral, burial, or cremation
- locate and assess the value of personal possessions
- assess real property (homes, land, cottages, and other real estate)
- contact beneficiaries
- pay estate administration taxes in Ontario probate court
- prepare and submit final income taxes to Canada Revenue Agency
- contact and pay creditors
- protect assets — investing money, insuring and securing property
- disbursing the estate according to any last Wills and testaments.
Apply for a certificate of appointment of estate trustee in Ontario.
Before you do all that, Axess Law can file an application for certificate of appointment of estate trustee with a Will (or without). That will give you legal authority to act for the deceased.
The Rationale Behind Disclaimed Inheritances
Who refuses bequests or estate gifts anyway?
It’s not unheard of. Disclaimed inheritances can arise when beneficiaries have emotional, moral, ethical, or financial reasons to decline assets. Taking a religious vow of perpetual poverty can result in disclaimed inheritances. Beneficiaries may dislike a deceased so much they refuse to accept gifts from their Will, or not want the high upkeep and repair costs from claiming real property.
What is probate — the seven steps you need to take.
How about this: bankrupt beneficiaries could lose legal protections by accepting small financial or real estate bequests. So can those embroiled in civil lawsuits that may expose them to court applications to disclose newfound wealth.
Wills writers may be well intentioned, but when the recipient is on income assistance, inheritances can be a financial burden, severing them from ongoing financial support. Imagine assets with personal meaning to a beneficiary flowing to a disliked former spouse through property division during divorce.
Some older beneficiaries may simply prefer to step aside to let disclaimed inheritances pass to children or grandchildren.
Coercion, Undue Influence, and Disclaimed Inheritances
All you really need to do is ensure the disclaimer is intentional.
Be wary if a beneficiary has diminished mental capacity because of age, ill health, or a disability. Axess Law refers you to our trusted legal partners if you suspect beneficiaries are being coerced, bullied, or unduly influenced to give up a bequest. They can advise you on how to take legal action to protect a beneficiary’s right to overturn decisions made without their informed consent.
You asked us how long does probate take in Ontario.
What to Do When an Inheritance is Refused
So what do you do next?
Unless Wills name an alternative beneficiary, disclaimed inheritances have the legal result of returning what has been renounced to the deceased’s estate residue. That residue (property or real estate not gifted to specific beneficiaries) increases the assets you have to distribute to others named in Wills.
Questions to ask an Ontario probate lawyer.
Your First Probate Consultation is Free!
With or without Wills, Axess Law has probate lawyers near you. Your first probate consultation is free, and your final statement includes no hidden fees or surprises. Axess Law’s probate services for Ontario Wills are all-inclusive.
Why having a lawyer make your last Will and testament matters.
Your virtual probate lawyer can prepare your application for certificate of appointment of estate trustee without a Will or with. You’ll be expected by a probate court to file an estimate of the estate’s worth, and pay estate administration taxes upfront.
Axess Law may be able to file a court application to dispense with administration bonds if you are an out of province or out of country executor. Ask us how to proceed if that applies to you. We answer all your questions about what is probate and how long does probate take in Ontario in 2021.
Hiring a probate lawyer near me.
Get Affordable Legal Services Anywhere in Ontario
Axess Law’s virtual lawyers for Wills or probate services are available when you are. You can access lawyers through our remote video conferencing software anywhere in Ontario.
Signing legal documents (Ontario) using virtual probate lawyers.
Making new Wills is no big deal when you use Axess Law. Our Wills lawyers are quick and affordable. You pay low flat fee rates, and can drop into any Axess Law location near you to sign. See how to write a basic Will for less.
In-person appointments are available at Axess Law offices in Greater Toronto Area or Ottawa. We have flexible appointments at locations convenient to you. Google ‘find probate lawyers near me Axess Law’ for our virtual locations in Ontario.
Book Wills or Probate Lawyers Today
Axess Law’s easy online booking form allows you to make appointments in minutes. Or phone our 1-647-479-0118 lawyer line (toll free to 1-877-402-4207) for our Greater Toronto Area or Ottawa law offices, or virtual lawyer services using secure, online software. Axess Law has onsite parking, and easy transit access.
