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One of the problems that estate administrators can encounter during the probate process is dealing with an insolvent estate. This occurs when the decedent owes more to creditors than the estate is worth. An insolvent
If you are the administrator of your parent’s estate and you have at least one sibling, chances are good that you have first-hand experience with frustration. There’s something about parental inheritance that turns otherwise pleasantly
People tend to seek out the most trusted friends and relatives they have to serve as estate administrators of their estates after they die. After all, who best to carry out one’s wishes but a
When accepting the responsibility of being the executor of a decedent’s estate, one also accepts any liabilities. According to one senior will and estate planner in Newfoundland, the primary risk to executors is the last
Even after a person has passed away, an obligation is still owed to the Canada Revenue Agency. In fact, the CRA is one of the most important contacts to be made by the executor during
In March of 2014, British Columbia enacted the Wills, Estates and Succession Act, which modernized estate law and made the probate process easier. Whether probate is necessary or not depends upon the policies of the
If you are named as executor of someone’s estate, that is an indication that the person had great confidence in you and your ability to carry out his or her wishes. But while it may
Wills are the most common way for a person to decree how his or her estate will be handled after they have passed away. They can be set up to provide welcome gifts to grieving
If you are selected to administer a family member’s, close friend’s or business associate’s estate, chances are that in this digital age, your responsibilities could include management of the digital assets of the deceased. When
Some people are born to greatness; others have greatness thrust upon them, a famous saying has it. In a sense, the same is true for estate executors. Most executors know well in advance that they
