Probate or joint tenancy - David

My_question_is: Canadian-specific
Subject:        Probate
Expert:         taxman at centa.com
Date:           Thursday July 20, 2006
Time:           08:49 AM -0700
QUESTION:
I have an elderly relative who is very ill.  She has a bank account over
$30,000.  In her will she leaves everything to her husband.  If she passes
away can the money in that account just be transferred to her husband's
account? or, would it have to be probated?
Thank you very much.
-------------
david ingram replies:
The bank will want probate papers if she dies with the money in her name
only.
What she should do is put it into a joint account with her husband now.
Another advantage of this method is that it saves half of the money from the
public trustee's clutches if there is a very expensive medical or nursing
home problem.
-------------
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        -------------
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