Preparing the executor for estate administration

Fast & CompanyEstate Administration

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 a bad idea for the executor to prepare for the process of estate administration in British Columbia ahead of time. Here are some tips for … Read More

Determine which assets must be included in probate

Fast & CompanyEstate Administration

If you are named as administrator of an estate, there may be some assets that fall out of the breadth and scope of the probate process. These non-probate assets must be dealt with separately as the rest of the decedent’s estate goes through the probate process. Some non-probate assets may include the following: Assets owned solely by the decedent but … Read More

What is an estate freeze and how do you manage it?

Fast & CompanyEstate Administration

Some estate administrators in British Columbia might have to deal with an estate freeze. The term refers to the transfer of business assets while the business owner is still alive to the intended heirs for the purposes of business continuity. At the same time, the individual is given valued shares of the business locked-in at today’s worth, which has favorable … Read More

Let us assist you when a family member dies intestate

Fast & CompanyEstate Administration

Handling the administration of a loved one’s estate when there is no will can be fraught with confusion for many people. When coupled with the grief that accompanies the death, the emotions can be paralyzing. An estate without a will is considered intestate and is subject to the provisions of the Wills, Estates and Succession Act. This means that there … Read More

Turn to the professionals for estate administration

Fast & CompanyEstate Administration, General

If you are struggling with the administration of someone’s estate, it can be quite frustrating. You might want to rush it through to appease family members and/or beneficiaries, but that could come back to haunt you with the liability. There are many factors involved with estate administration, and some decedents’ estates can be quite complex, involving real estate holdings in … Read More

Dodging family feuds while administering an estate

Fast & CompanyEstate Administration, General

Elderly parents with several adult children sometimes elect to choose one child to be the executor of their estates when they die. This may give them comfort to think that they carefully selected the fairest and most responsible of their brood to carry out their final intentions, but this choice can foment bad blood between the siblings. Problems often arise … Read More

Are you up to managing the estate of your relative?

Fast & CompanyEstate Administration, General

How convenient it would be if our loved ones always managed to have their affairs in tip-top shape at the time of their deaths. While some do manage to prepare for the inevitable and get their ducks in line, others’ personal affairs are in disarray when they pass on. If your spouse, parent or other loved one is one of … Read More

When a will is vague, estate administration may be complicated

Fast & CompanyEstate Administration, General

The responsibility of being executor of an estate, or the British Columbia court-appointed administer, is a heavy burden. Fortunately, a well written will leaves little room for doubt as to what needs to be done with the deceased’s assets. Vague wording, however, can lead to misinterpretation and may complicate the task of estate administration. When specific instructions are not left … Read More

Have you chosen the right person as executor of your estate?

Fast & CompanyEstate Administration, General

In order to have your wishes carried out regarding the administration of your estate, it’s important to select the right executor to handle your affairs when you die. Making the wrong choice can delay the distribution of assets to your heirs, inspire contested will battles and potentially open the estate to tax liabilities. The right person for the task should … Read More

When the administrator cannot serve in that capacity

Fast & CompanyEstate Administration, General

There are cases where it is appropriate that the Public Guardian and Trustee (PGT) administers estates when the circumstances do not permit the beneficiary, intestate successor, executor or other eligible person to serve in that capacity. When that occurs, the PGT can agree to an appointment as executor. However, when these situations arise, it’s important to understand that the PGT … Read More