Acting as an executor for an estate in British Columbia is an important, but task-laden responsibility. Some of these tasks are relatively self-evident; it will come as no surprise that the executor is responsible for identifying beneficiaries and seeing to it they are given their allotted share, for example. There are, however, many less obvious, but equally important steps to … Read More
Estate Administration Headache Number 1: Battling Heirs
Even professional estate administrators and lawyers dislike handling estates where there are multiple contentious heirs working at cross-purposes with one another. Sometimes dissatisfied heirs try to undermine the probate process by selling off some of the estate’s holdings, but more often than not, the in-fighting is demoralizing and creates chaos. Siblings dredge up decades-old grudges and revert to their childhood … Read More
When a Will Is Vague, Estate Administration May Be Complicated
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
What Happens When There Is No Money in an Estate?
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?
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