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Any assets that are titled in the decedent's sole name, not jointly owned, not payable-on-death, don't have any beneficiary designations, or are left out of a Living Trust are subject to probate. Such assets can include: Bank or investment accounts. Stocks and bonds.
Probate assets include: Real estate, vehicles, and other titled assets owned solely by the deceased person or as a tenant in common with someone else. Tenants in common don't have survivorship rights. The owners can bequeath their share of the property to someone else.
The Cost Of Probate With A Will In Texas, if the deceased had a Will providing for an independent administration, which is standard for lawyers to include in a Will, the cost of probate probably would range from $750 to $1,500 in attorneys' fees. Court costs are about $380 in Texas.
Assets that may trigger probate in Ontario include: Real estate (located in Ontario) Bank Accounts (including foreign or out-of-province banks) Investments. Vehicles and vessels. Property of the deceased that was held in another person's name.
The probate procedure is expensive, drawn-out, and intrusive. The costs associated with the court, legal counsel, personal representatives, bonds, and accounting all add up and can create a much bigger ordeal than expected.