Is there a time when probate can be beneficial? Richard Niedermayer, TEP, discusses

Partner Richard Niedermayer, TEP, is featured in the Society of Trust and Estate Practitioners Canada newsletter, STEP Inside, where he discusses whether probate can be the right choice in certain situations.

Richard outlines some reasons why probate might be avoided generally, as it can cause delays in asset transfers to beneficiaries, complicate the succession process and comes with additional fees and taxes. Through all discussions, Richard notes that the main question that should be asked is if measures can be put in place to protect privacy without probate: “the challenge for estate and trust planners is to ensure that client and beneficiary interests are safeguarded sufficiently when probate is not being sought.”