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When a death occurs without warning, the family members are in a state of shock. But decisions still must be made, and often it falls to the executor of the person’s estate to make them
If you are the executor of someone’s estate, it’s incumbent upon you to preserve and protect the assets that now belong to the estate. Sometimes this is relatively simple, such as locking up the decedent’s
Being named as executor of an estate is a solemn responsibility. While it may be a source of some pride to be named to such an important position, many would-be executors are understandably daunted by
Very few executors are surprised to find out they were named to the position, having typically been informed during the estate planning stages. Given the prior knowledge of the eventual responsibility, it might not be
Some British Columbia residents are surprised to learn that they have been named as executor of a deceased person’s estate. The way to confirm this is to view the original will. Wills may be kept
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
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
Sometimes people named as executors of estates are unable to serve in that capacity. They may have died at the same time as the decedent, as in spouses killed in an accident, or they might
Many executors don’t need to apply for probate, depending upon the estate’s assets, as some can pass on to the heirs directly. Properties owned as joint tenancies with other people don’t have to be probated.
This is the second installment of our series on the duties of an executor in British Columbia. Many executors elect to retain a lawyer to prepare the paperwork and provide legal advice on the
