The administration of a loved one’s affairs after his or her death can be a complicated and overwhelming process. Many people who are named as estate trustees or executors in a Will have no training or experience in the role. The process of estate administration may seem straightforward; however, technical requirements imposed by various pieces of legislation must be met.
We work closely with you to guide you through the duties and responsibilities as an estate trustee. If complications arise, we will be there to support you and help you navigate these issues. We can assist in:
- Interpreting a Will or trust
- Estate probate
- Estate trustee compensation
- Distribution of assets to beneficiaries
- Estate litigation
Duties of a Personal Representative
The personal representative of an estate, also known as the administrator or executor, has many responsibilities, including:
- Gathering in and safeguarding the assets of the estate
- Paying the debts of the deceased and estate
- Distributing assets to beneficiaries
- Filing the deceased's final tax return and estate returns
- Cancelling the deceased's charge accounts and subscriptions
- Informing government agencies, such as Canada Pension Plan, about the death
- Preparing an estate accounting for the beneficiaries
Consulting with a lawyer early in the estate administration will ensure that the administration proceeds timely and efficiently, eliminating liability, stress and frustration.