What is a Certificate of Appointment with a Will? Why would I need to obtain one?

A certificate of appointment with a will means that the courts have acknowledged and stamped the will as legitimate and binding.

Certificates of appointments are created so that financial institutions (for instance: banks) can protect their institutions. If not for certificates of appointments, in the event that the deceased had more than one will, with two different beneficiaries, the financial institutions may be in a situation whereby they may make a pay out to the wrong beneficiary.

In response, these financial institutions require legal proof that you are the sole estate trustee and beneficiary, and that they are paying out the estate to the proper person.

Once the financial institutions see a certificate of appointment with the will, then they are protected financially, and are no longer liable if they pay out the estate to the wrong individual.

In addition, a certificate of appointment with the will is needed in order for a beneficiary to sell or transfer the deceased’s real estate, as well as in order to transfer shares from the deceased to the estate trustee.

There are also situations whereby the content of the will may difficult to understand. By obtaining a certificate of appointment with the will you are clarifying the content of the will, ensuring you are caring it out in the right way, legally, and that your actions cannot be contested.

The will must be submitted to an Ontario court in order to be granted a certificate of appointment. In order to obtain one, the estate trustee must pay probate fees, which are also recognized as court fees.

It is also important to note that whether or not a certificate of appointment with the will is required depends on the estate in question and the circumstances surrounding the will and the estate left behind by the deceased.

For more information on wills and certificates of appointment, contact Krol & Krol at 905.707.3370.