If you are in charge of probating an estate, it can be confusing trying to remember to cross every “t” and dot every “i.” But yet it must be done correctly or you could face financial and legal liabilities for being remiss in your duties. Below are some important tasks to check off of your list. Make sure that you … Read More
How Can I Correctly Value a Decedent’s Real Property?
If you are in charge of probating an estate, at some point you may need to valuate real estate that was owned by the decedent. It’s vital that this is accurately done in order for the heirs and beneficiaries to receive their fair share of the estate’s true value. A professional real estate evaluator can look at the net operating … Read More
Do I Have to Accept Being an Administrator of a Will?
If you are named as executor of someone’s estate, that is an indication that the person had great confidence in you and your ability to carry out his or her wishes. But while it may be considered an honour, it is also a big responsibility. Some people who are named as executors wind up renouncing those duties. There can be … Read More
When the Estate Includes Digital Assets
If you are selected to administer a family member’s, close friend’s or business associate’s estate, chances are that in this digital age, your responsibilities could include management of the digital assets of the deceased. When you consider that may entail responsibility for a lifetime’s worth of accounts and files uploaded to the cloud, coupled with bereaved loved ones clamoring for … Read More
How Do I Probate an Insolvent Estate?
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 by a lawyer, as now the executor will need to become familiar with not just British Columbian estate laws, but bankruptcy laws as well. There … Read More
What Do Alternate Estate Executors Need to Know?
Sometimes people named as executors of estates are unable to serve in that capacity. They may have died at the same time as the decedent, as in spouses killed in an accident, or they might have predeceased the decedent. There are other reasons that could preclude a named executor from carrying out his or her duties. Perhaps that person no … Read More
The Duties of an Executor, Part I
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
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