The executor of an estate has numerous duties, though many people may assume it is just a matter of probating the will and distributing the assets. While those are the two main tasks of estate administration in British Columbia, there are numerous sub-tasks and related duties, as well. For example, the executor may need to make many decisions concerning the … Read More
The Responsibility of Estate Administration
Congratulations, you’ve been named as executor of your late friend’s or family member’s estate. It may seem a dubious honour, but it means that the person trusted you a great deal. As such, it’s important that you are capable of carrying out their wishes as they intended. That may sound simpler than it is, however. An executor does not have … Read More
Timeline of Estate Administration, Part 2
Last month we reviewed the timeline of estate administration in the days and weeks following the death of the decedent. Today, we pick up the timeline where we left off — several weeks after the person’s demise. By this point, the estate administrator should have obtained contact information for all heirs and estate beneficiaries for the purpose of sending a … Read More
Timeline of estate administration, Part 1
If you are newly appointed as the administrator of an estate, it can be confusing knowing what needs to be done when. Below is a list of the duties you will be responsible for performing and the approximate time you will need to do them. Immediately after the death of the decedent, you will need to: Arrange to donate the … Read More
Important Things to Know About Probate for the Executor
Being named as executor of an estate is a solemn responsibility. While it may be a source of some pride to be named to such an important position, many would-be executors are understandably daunted by the enormity of the task. Estate law is fairly complex, and the process of probate can be confusing and possibly lengthy. For those British Columbia … Read More
Do I Really Have to Pay Off My Deceased Dad’s Debts?
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
Understanding the Probate Process
In March of 2014, British Columbia enacted the Wills, Estates and Succession Act, which modernized estate law and made the probate process easier. Whether probate is necessary or not depends upon the policies of the financial institutions or agencies that hold any assets that are part of a decedent’s estate. Some agencies require that executors apply for representation grants so … Read More