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The executor of an estate in British Columbia has many responsibilities, all of them important. One of the key early steps in estate administration involves identifying and settling the debts of the estate. How this
At no time during the life of a man or woman in British Columbia is that person happy to pay their taxes. Imagine the surprise of discovering one is responsible for the taxes of another
If you are responsible for the probate and administration of an estate here in British Columbia, you might want to know what you will wind up having to pay. The estate may be subject to
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
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
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
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
Even after a person has passed away, an obligation is still owed to the Canada Revenue Agency. In fact, the CRA is one of the most important contacts to be made by the executor during
Being in charge of probate for an insolvent estate is truly a thankless task, yet if you have accepted this assignment, you must carry out your duties. These types of estates are usually best administered
