How can I minimize my liability as executor during probate?

Fast & CompanyEstate Administration, General, Probate

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 will and testament. Many people draft wills that are quite vague and fail to specify important information about bequests to heirs and beneficiaries. For example, … Read More

Dealing with Disgruntled Heirs

Fast & CompanyEstate Administration, General, Probate

If you are handling the probate process as an estate administrator, one challenge you may encounter are disappointed beneficiaries. There can be many reasons for their disappointment, and few of them will likely be because of decisions that you make. However, it will be to you whom they turn with their dissatisfaction, so you must be prepared should this occur. … Read More

Avoiding Problems with Probate

Fast & CompanyGeneral, Probate

Despite the best intentions, not all probates proceed smoothly. If you are responsible for probating and administering an estate, you might run into some of these typical problems. Inadequate will searches. The process must include all variations of names. When handling land transfers, the names must be listed exactly as they appear in the first part of the Title of … Read More

The Duties of an Executor, Part I

Fast & CompanyEstate Administration, General, ProbateLeave a Comment

If you are new to the probate process in British Columbia, you may be confused about your role in the process. In this blog post, we will explain some of the basics. The process of probate is to have the court validate the decedent’s will (ie the person who has passed away). While there may be some exceptions, the decedent’s … Read More

British Columbia Probate Rules

Fast & CompanyEstate Administration, General, ProbateLeave a Comment

It can be confusing to interpret the rules regarding the disposition of your property in Canada after your death. Below are some basic facts of which all British Columbia residents should be aware. On the date of your death, the government calculates the fair market value of all of your property as if it were sold, including depreciable property, capital … Read More