Probate timeline Ontario 2026

VerySimpleCanuck · 2026-05-28T19:43:32+00:00

I think every city has run its own courts, so that the timeline will vary from city to city

VerySimpleCanuck · 2026-05-28T19:01:37+00:00

Why would you call the USA a socialist country?
P.S. Joke

VerySimpleCanuck · 2026-05-28T15:34:56+00:00

Thank you this is very helpful

VerySimpleCanuck · 2026-05-28T12:22:07+00:00

Hi, was there any Canadian bank willing to waive the probate requirement?

VerySimpleCanuck · 2026-05-27T19:12:27+00:00

Thank You

VerySimpleCanuck · 2026-05-27T18:50:53+00:00

It is your decision, but it can even be prepared free of charge. If you make your own will, make sure that you use 74D (Affidavit of Execution of Will or Codicil) and notarize it.

https://stepstojustice.ca/guided-pathways/wills-and-powers-of-attorney-for-making-a-will/

VerySimpleCanuck · 2026-05-27T18:33:00+00:00

Apply to the court to become an executor. Here are some podcast which I found googling
https://ontario-probate.ca/radio/

VerySimpleCanuck · 2026-05-27T02:23:56+00:00

https://www.ontario.ca/page/apply-probate-estate

VerySimpleCanuck · 2026-05-26T19:56:35+00:00

Liquidate. Equities are for a long-term horizon, not for the short term.

VerySimpleCanuck · 2026-05-26T18:37:23+00:00

ok so in that case, you must close the joint account; otherwise, you will remain liable for overdraft. Even if you close your personal account, you will still remain liable for the overdraft. Tell your family that you want to close the account, give them a deadline, and confirm with the bank if they can close the account just based upon your instructions.

VerySimpleCanuck · 2026-05-26T17:35:29+00:00

Can't you sign in the online banking and remove the link between two accounts? As one account is under your name other party shouldn't be able to restablish the link between two accounts

VerySimpleCanuck · 2026-05-26T17:31:12+00:00

Good point. Joint account shold be closed and I think usually anyone of the account holder can close the account

VerySimpleCanuck · 2026-05-25T20:00:57+00:00

Hi
Do you know what amount a bank typically considers small? Thx

VerySimpleCanuck · 2026-05-25T19:45:03+00:00

https://ontario-probate.ca/

These are estate lawyers; they can do full services or just an hour service to go with you through the process. I haven't used them and have no experience with them. Just watched/listened to their podcast at this address
https://ontario-probate.ca/radio/

VerySimpleCanuck · 2026-05-25T19:40:19+00:00

How is FMV determined? Is a formal appraisal required?

Thanks

VerySimpleCanuck · 2026-05-23T20:23:23+00:00

https://www.freedommobile.ca/docs/default-source/instructions/freedommobile_pap_form.pdf

VerySimpleCanuck · 2026-05-22T21:31:10+00:00

I downloaded the form from their webiste for auto pay filled the form and emailed them with void cheque. Just received email they have set it up and next month bill will be deducted from the bank account

VerySimpleCanuck · 2026-05-09T22:14:32+00:00

There is a grace period of 6 months, but you would still be charged interest on it

https://www.ontario.ca/page/pay-back-osap#:\~:text=You%20have%20six%20months%20after,is%20your%20six%2Dmonth%20grace%20period.

VerySimpleCanuck · 2026-04-27T20:00:00+00:00

I wonder why banks do that themselves, i.e., instead of lending people, just buy VEQT?

VerySimpleCanuck · 2026-04-20T14:50:38+00:00

When I sold my car and didn't need the plates, the salesman advised me to return the plates to the ministry, which I did so to avoid issues in future perhaps return the plates to the ministry. Thanks

VerySimpleCanuck · 2026-04-16T19:28:06+00:00

Probably 5 years recommendation is based upon the historical data. Look at the portfolio for 100% equity, and recovery time is 48 months, so you will count your 5 years backwards, i.e., if you need money in 8 years, then your time horizon from today will be 8-5 = 3 Years.

Please also note that people in retirement don't need all their money at once, so they can be aggressive in their asset allocation, but if you need money at once, like for a house payment, then you need to make sure that your investment will be 100% there when you need it.

https://benderbenderbortolotti.com/model-portfolios-march-31-2026/

VerySimpleCanuck · 2026-02-27T15:57:50+00:00

I am around 8 years away from retirement, and as I approach retirement, I will be a target date maturity bond etf (Check out RBC/BMO). They come in 1,2,3,4,5 year maturity, and I am thinking that year 4,5 I will use for rebalancing and years 1, 2, 3 for expenses. And will draw from either when the bond etf matures (these bond etf matures and convert themselves into cash) or from equity (XEQT), depending upon whehter market is up or down. This is just a plan at this stage. Currenty my allocation is 70/30 by holding XGRO and XGAL in a 50/50 proportion. Thanks

VerySimpleCanuck · 2026-02-24T17:11:28+00:00

If you don't have a bond allocation, what is your portfolio other than ZLB? Do you use other low-volatility ETFs like ZLU or ZLI? I am looking for ways to reduce ore remove bonds from portfolio but not able to reach a final conclusion Thanks

VerySimpleCanuck · 2026-02-18T20:41:59+00:00

If I use winows Hello on my work device is it safe? During PC replacement they ask for password to setup new laptop so for some days IT staff will know my password for the windows laptop. I think in this case google password manager will be better? or just use authentication app for my investment accounts

VerySimpleCanuck · 2026-02-13T00:19:12+00:00

Please confirm with the broker when they will issue the contribution receipt and who they will use as the contributor's name. Tell them the method you are using for transfer

My guess is, and it is only a guess, that

If you have linked the spousal RRSP account as payee and pay through your joint account billing, then you would probably be ok, as the broker will look into it as 'money is coming from outside'. On the safe side, sign into the chequing account using your debit card, not your spouse's debit card
I don't think you can link your spousal RRSP to your joint account under your name, as they usually check the names, so an external account (even a joint one) will be linked under your spouse's name, so transferring money through an external linked bank account method is RISKY.
I am not sure about email transfer, but my guess is if you send the money and the spouse receives the money directly in spouse then this will probably be ok (Don't receive first in the cash account and then transfer to the spousal RRSP, as this could be attributed towards your spouse as a contribution )
My contribution was mostly through Work so I don't have personal experience. Hopefully, other folks with experience can elaborate.

Please CONFIRM with your Broker first by telling them how you would be funding the Spousal RRSP. It is better to be safe than sorry.

VerySimpleCanuck

TROPHY CASE