Do banks in Manitoba require probate to release a deceased person's money?
This answer covers the law of Manitoba.
Often, but not always. Probate is needed only if there are assets in the deceased's name alone. A bank account held only in the deceased's name is that kind of asset, while property that can pass without a probate order is not.
Assets that can transfer without a probate order include the CPP Death Benefit, life insurance proceeds payable to a named beneficiary, and jointly held property with a right of survivorship. For a small estate, if the total value of the deceased's property does not exceed $10,000, the court may order property paid or delivered to a designated person without a grant. That request uses Form 74FF, and the order is Form 74GG. Funeral expenses and debts are paid first.
What a bank asks you to bring is set by the bank, so call the branch or its estate team before you gather papers. Where a grant is needed, probate goes to the executor named in the will, while a court appoints an administrator if there is no will or no executor able or willing to act. A lawyer can confirm which route fits your situation.
Key takeaways
- Probate is needed only if there are assets in the deceased's name alone.
- Jointly held property with a right of survivorship, life insurance payable to a named beneficiary and the CPP Death Benefit can transfer without a probate order.
- For a small estate with total property of $10,000 or less, the court may order payment to a designated person without a grant, using Form 74FF and Form 74GG.
- Each bank decides which documents it wants, so ask the bank before you gather papers and confirm your route with a lawyer.