- A will names who should act, but probate is the court confirming that the will is valid and that the executor has authority.
- Ontario says estates with real property or assets held by a financial institution normally have to be probated, and executors should check each institution's requirements first.
- Assets with a named beneficiary or held jointly with survivorship are excluded from the estate value used to calculate estate administration tax.
- Applications are typically processed within 15 business days, but delays happen if documents are missing or a judge must decide something.
You have a valid will, you are the named executor, and the bank or brokerage tells you it wants a court-issued certificate before it will release anything. It can feel like an unnecessary extra step.
Institutions are not being difficult for its own sake. They are responsible for paying out someone else's money, and a certificate gives them a court-confirmed answer to who may receive it. This article explains the reasoning and how to prepare.
A will states wishes; probate confirms authority
Probate asks the court to formally approve the will and confirm or grant authority to act. A bank usually cannot tell on its own whether a paper presented to it is the last will, whether it was validly made, or whether the person presenting it is the right one. The certificate answers those questions in one document.
A named estate trustee is also not required to act. If they decline or cannot act, beneficiaries may nominate someone else, and the court appoints a trustee in several situations, including where the named trustee asks the court to confirm the will.
What Ontario says about when probate is needed
Ontario states that if the deceased owned real property or assets held by a financial institution, the estate normally has to be probated. It also tells executors to check whether the institution requires a certificate before applying. Because requirements can vary, ask each bank and brokerage directly, in writing, and keep the answers.
| Asset | Likely position |
|---|---|
| Ontario real estate in the deceased's name | Estate normally has to be probated |
| Bank or investment accounts held by an institution | Estate normally has to be probated; check the institution's requirement |
| Jointly held assets that pass to the survivor | Excluded from the estate value |
| Registered plans or insurance with a named beneficiary | Excluded from the estate value |
| RRSP, RRIF or TFSA with no beneficiary designation | Counted in the estate value |
What applying involves
Applications are filed with the Superior Court of Justice in the county or district where the deceased lived or, if they lived outside Ontario, where they owned Ontario property, by mail or by email under the court's practice direction. The main forms include Application Form 74A, an Affidavit of Service 74B or Lawyer's Certificate 74B.1, an affidavit about the will (74D, 74E or 74F), and a draft certificate Form 74C. Documents are sworn before a Commissioner for Taking Affidavits.
A signed copy of the application must be sent to all estate beneficiaries before filing. The Office of the Children's Lawyer and the Public Guardian and Trustee may need to be served for minor or incapable beneficiaries.
Estate administration tax is paid as a deposit when applying and becomes the tax once the certificate is issued. If probate is not issued the deposit is refunded. Estates valued at $50,000 or less pay no tax but still require the certificate application and the Estate Information Return.
Timing, delays and smaller estates
Ontario says applications are typically processed within 15 business days, longer if documents are missing or a judge must decide an issue. A refusal is communicated by a Registrar's Notice (Form 74O) stating the reason, and if documents are missing you can submit revised or additional materials when court staff ask for them. If someone has filed an objection (Form 75.1), the applicant must give notice to the objector (Form 75.3) and file a copy with an affidavit of service.
Smaller estates valued at $150,000 or less can use the Small Estate Certificate process. The signed application must go to everyone entitled to a share at least 30 days before filing.
What to do next
- Ask each bank, brokerage and insurer, in writing, what it requires before releasing funds, and whether it needs a certificate.
- Separate assets with a named beneficiary or joint survivorship from estate assets.
- Gather the original will, the death certificate and a list of assets and debts.
- Plan for the Estate Information Return, due within 180 calendar days after the certificate is issued.
- Before distributing, consider getting a CRA clearance certificate (Form TX19), because a representative who does not may be liable for unpaid tax up to the value of property distributed.
After probate, the executor must also file an income tax return for the deceased and inform banks and financial institutions. A lawyer can confirm which institutions will accept what, and help if one refuses without a clear reason.
Frequently asked questions
Why does a bank want probate when I have the will?
The will does not by itself prove it is valid or that you have authority to act. Probate asks the court to approve the will and confirm or grant that authority. The bank is protecting itself against paying the wrong person.
Is there a dollar amount below which banks skip probate?
Ontario's guidance does not set a bank threshold, and policies differ between institutions. It advises executors to check whether the institution requires a certificate before applying. Ask each institution directly.
Do I pay tax just to apply?
The tax is paid as a deposit when you apply, and it becomes the tax once the certificate is issued; the deposit is refunded if probate is not issued. Estates of $50,000 or less pay no tax.
Do all assets have to go through probate?
Not necessarily, but Ontario says that if the deceased owned real property or assets held by a financial institution, the estate normally has to be probated. Assets held jointly that pass automatically to the survivor, and registered plans and insurance with a named beneficiary, are excluded from the estate value for tax purposes. How this applies to a particular asset depends on your situation, so it is worth confirming with a lawyer.
Sources
- Ontario.ca – Estate Administration Tax — ontario.ca
- Ontario.ca – Administering estates — ontario.ca
- Ontario.ca – Probate for a small estate — ontario.ca
- Ontario.ca – Apply for probate — ontario.ca
- Ontario.ca – What to do when someone dies — ontario.ca
- CRA – Apply for a clearance certificate — canada.ca
Links go to official government, court and regulator pages. The law changes — confirm you are reading the current version.
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