The Executor of an estate is appointed under the Will to “Administer” the estate. Some of the responsibilities of the Executor during the administration of the estate include:
- Making funeral/memorial service arrangements and disposition of the deceased’s remains
- Finding out the names and addresses of the beneficiaries and notifying them that they have an interest in the estate.
- Listing the contents of any safety deposit boxes.
- Creating an inventory of all the deceased’s assets and determining their value at the date of death.
- Securing and storing property pending distribution.
- Securing and protection real estate including notifying the insurer of the death of the deceased and that the property is vacant.
- Interim management of businesses, farms, or fishing enterprises.
- Applying for Grant of Probate/Administration.
- Applying for pensions, death benefits, life insurance.
- Notify named beneficiaries of RRSP or other accounts.
- Ensure necessary tax returns are filed on time, taxes are paid up, and CRA clearance certificate obtained.
- Pay any debts, settle, or otherwise resolve any lawsuits or other claims against the deceased’s estate.
- Keep accounts of the estate.
- Distribute property to beneficiaries in accordance with the Will or intestacy law.
This is certainly not a comprehensive list, but as you can see, acting as Executor of an estate is a significant personal responsibility. When you sit down to meet with your lawyer we will spend time discussing who will be the best choice to act as your Executor.
If you have been named as Executor of an estate, and looking for guidance on this topic we'd be happy to help. You can call us at (902) 826-3070 to set up a meeting or contact us online. You can also schedule a no commitment Issue Review Consult for $100+HST where you have the opportunity to explain your situation to a lawyer and get basic advice before deciding whether or not you'd like to retain us.
The information and materials on this blog are provided for general informational purposes only and are not intended to be legal advice. Nothing contained on this blog is legal advice or constitutes a legal opinion. While it is our goal to provide information which is current, legislative changes and court decisions, among other matters, may result in some information no longer being current or accurate. You should consult a lawyer before relying on any information. The views expressed herein by individual contributing lawyers posting entries to the blog are solely those of the authors and should not necessarily be attributed to or considered representative of the firm of Highlander Law Group Lawyers.