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

Let a legal professional probate the estate

Fast & CompanyGeneral, Probate

The responsibility for filing for probate of a deceased person’s estate can sometimes be burdensome, especially when the estate is large or complex. Sometimes an estate can include multiple properties and/or business entities that all must be sufficiently managed and valuated by the estate administrator. For some in that position, it can be a bit more than they ever bargained … 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

Unruly heirs? Welcome to the estate administration world

Fast & CompanyEstate Administration, General

Sometimes the administrators of estates have to deal with demanding and unpleasant heirs and beneficiaries. If they are really unlucky, they may even be related to them by blood or marriage. In cases like that, the best strategy is learning how to best manage these types of people. Often their disagreeable behaviours stem from a lack of control over what … Read More

We can help when there is no will

Fast & CompanyEstate Administration, General

If you have been named as administrator of an estate where there is no will, your job will be more complicated than it would be if the decedent had legally spelled out his or her intentions. These kind of cases are often best dealt with by legal professionals who are well-versed in the estate laws governing British Columbia residents. Retaining … Read More

What are the main duties of a trustee of an estate?

Fast & CompanyGeneral, Probate

At some point during the probate of an estate, the estate’s personal representative ceases to act as the executor and becomes the estate’s trustee. This usually happens once all of the personal representative’s duties have been met. Trustees are responsible for maintaining the assets of the decedent’s estate once all legitimate debts have been paid. According to the Law of … Read More

Do I really have to pay off my deceased dad’s debts?

Fast & CompanyEstate Administration, General

When spouses, parents or others die, their heirs may have concerns about any responsibility they may have to pay the debts the deceased accrued over a lifetime. In short, the answer is that they have no responsibility. However, just as with many of the complex aspects of estate administration and probate, there are exceptions, and they include: Joint debts where … Read More

What happens when there is no money in an estate?

Fast & CompanyGeneral, Probate

One of the problems that estate administrators can encounter during the probate process is dealing with an insolvent estate. This occurs when the decedent owes more to creditors than the estate is worth.  An insolvent estate presents a unique set of challenges to estate administrators. By definition, an “insolvent estate” is one that doesn’t have sufficient funds to pay the … Read More

Can I administer my Mom’s estate without killing my siblings?

Fast & CompanyGeneral

If you are the administrator of your parent’s estate and you have at least one sibling, chances are good that you have first-hand experience with frustration. There’s something about parental inheritance that turns otherwise pleasantly civil siblings into the snarling and scrapping toddlers they once were. When the estate administrator is also an heir, he or she might have to … Read More