I assist clients administer the estate of deceased loved ones. I also help clients settle estate disputes.
What is involved in the administration of an estate?
Upon the death of the testator, the executor and trustee must attend to the administration of the estate.
The administration of the estate is an onerous task which entails:
- filing the requisite returns with the Canada Revenue Agency;
- confirming the validity of the will, and having same probated by paying the requisite probate fees ($5 for each $1,000 of the first $50,000 of the value of the estate, and $15 for each $1,000 of the value of the estate exceeding $50,000);
- identifying the estates liabilities;
- identifying and locating the rightful beneficiaries;
- Obtaining a Certificate of Appointment of Estate Trustee With a Will (for those who passed with a will). Or, obtaining a Certificate of Appointment of Estate Trustee Without a Will (for those who passed without a will);
- paying the estate’s liabilities;
- distributing the assets of the estate in accordance with the provisions of the will, or the Succession Law Reform Act.
In addition to the executor and trustee’s legal obligations, the administration of an estate involves the handling of dozens of practical matters such as making arrangements for the funeral, giving notice of the death to various government agencies, banks, insurance companies, closing out the deceased’s accounts (telephone, internet etc.), opening a bank account for the estate, and so on.
The executor and trustee is personally liable to the beneficiaries of the estate for errors committed during the course of the administration of the estate. Thus, it is strongly recommended that the executor and trustee seek the assistance of experienced legal counsel.
To learn more, contact me at 613.841.9099 and schedule a free, confidential, initial consultation.