by Marie-Louise Fast
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by Marie-Louise Fast
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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 the executor to aid with his or her preparation.
Acting as executor of an estate is often a time-consuming and difficult process. Some people named to the position opt not to accept the responsibility. If this occurs after the testator is deceased, it could cause complications. Should one feel they are not going to be up to the task, it may be better to inform the testator as early as possible.
After deciding to accept the position, it might be a good idea to gain an understanding of the scope and the intricacies of the estate. Find out if the testator has compiled a list of his or her assets and where they can be found. Questions like these may be more difficult to get answers to after the testator has passed.
Though the task ahead may be cumbersome, preparing in advance may make matters considerably easier to handle. At any time during the estate administration process, the executor may wish to avail him or herself of professional assistance. An experienced British Columbia lawyer can use his or her knowledge of estate law to guide the executor through some of the more difficult aspects of probating and administering an estate.
The intent of the 2014 Wills, Estates and Succession Act was to modernize estate law in the province while also making the probate process easier for the public. Probate is needed as per the policies
When a death occurs without warning, the family members are in a state of shock. But decisions still must be made, and often it falls to the executor of the person’s estate to make them
If you are the executor of someone’s estate, it’s incumbent upon you to preserve and protect the assets that now belong to the estate. Sometimes this is relatively simple, such as locking up the decedent’s
Some British Columbia residents are surprised to learn that they have been named as executor of a deceased person’s estate. The way to confirm this is to view the original will. Wills may be kept
