ANNOUNCER: I’m here with Meghan Jenner from Cohen Highley. Lawyers, explain probate.
MEGAN: Assuming a will exists, probate is a process that occurs after you die and if it’s necessary, is something the person you’ve selected as your estate trustee in your will deals with.
ANNOUNCER: Okay, I’m with you so far.
MEGAN: Probate is a process in which a court provides their approval that a will is the valid last will of the deceased person. It also confirms the appointed estate trustee’s authority to act as the estate trustee.
ANNOUNCER: And this is necessary because?
MEGAN: Because after you die, your estate trustee is the person who will carry out your wishes as indicated in your will, they may have to access your bank accounts, investments, and so on. Those organizations may require proof that they are dealing with the actual estate trustee. Obtaining probate is their assurance. One last thing, the term probate has been replaced and assuming there is a will, the process is now referred to as ‘Obtaining a Certificate of Appointment of a Estate Trustee with a Will’.
