Planning Your Estate in New Brunswick, Including the 2026 Probate Changes

A guide to wills, probate and passing on what you’ve built.

Why plan now

An estate plan makes sure your wishes are followed and your family is looked after, and it means less of what you leave goes to taxes and fees.

• 1.5% is New Brunswick’s probate tax on estate value above $100,000 since June 12, 2026.
• $6,600 in probate tax on a $500,000 estate in New Brunswick, up from $2,500.
• $0 in probate on insurance and registered plans paid to a named beneficiary.

Sources: Probate Court Act (New Brunswick), as amended June 12, 2026; Government of New Brunswick.

The building blocks

Your will

Names your executor and guardians, and says who gets what.

Powers of attorney

Name someone to handle your money and your health care if you can’t.

Beneficiaries

On RRSPs, RRIFs, TFSAs and insurance, they pass assets directly.

Ways to reduce probate

1. Name beneficiaries on registered plans and insurance, rather than your estate.
2. Hold property jointly with right of survivorship, where it suits your plan.
3. Use segregated funds, which pass to named beneficiaries outside your estate.

Watch for unintended results. Joint ownership and beneficiary choices can have tax, legal and family consequences. Plan them with your lawyer and me together.

Taxes at death

• RRSP / RRIF: Fully taxable. On your final return, unless left to a spouse or an eligible dependant.
• Investments: Gains taxed. Taxed as if sold, unless left to a spouse. This includes the cottage.
• TFSA: Tax-free. Passes tax-free. A spouse can be named successor holder.
• Principal home: Usually exempt. Covered by the principal residence exemption in most cases.

Using insurance in your estate

Permanent life insurance is one of the simplest estate planning tools.

• Pay the tax bill. Cover the tax so the cottage or business can stay in the family.
• Equalize inheritances. Leave the business to one child and insurance to the others.
• Give to charity. Name a charity as beneficiary for a donation receipt on your final return.

Review every few years. A will written before a marriage, separation, birth or move may no longer say what you want.

Getting started checklist

• Make or update your will.
• Name powers of attorney for property and personal care.
• Check every beneficiary designation.
• List your accounts and policies for your executor.
• Estimate the taxes and fees your estate would face.
• Talk with your family about your wishes.

Choosing an executor

Your executor settles your estate: paying bills and taxes, filing returns, and distributing what’s left. Choose someone organized, trusted and willing.

• A family member: Knows your wishes, but may need professional help.
• A trust company: Experienced and impartial, for a fee.

If there’s no will

1. A court appoints an administrator, which takes time and money.
2. Provincial law decides who inherits, not you.
3. Common-law partners may have limited rights.
4. Guardianship of young children may be left to a court.

Probate now costs more in New Brunswick. Since June 12, 2026, estates over $100,000 pay $600 plus $15 for every $1,000 above $100,000. It’s a good time to review your plan.

Let’s protect your legacy

I’ll work alongside your lawyer and accountant to make sure your plan does what you intend.

Book a conversation with Michael, or call the office at 506-406-6100 (cell 506-440-6196). Email: [email protected]. Ask for a printed copy of this brochure at your next meeting.

For general information only; not tax or legal advice. Probate and tax rules vary by province and can change. Speak with a lawyer about your will. We’ll review the details that apply to you together.