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Excutor Duties

When someone dies with a Will, they are deemed to have died testate and the appropriate Court appoints the person named to act as the Estate Trustee in the administration of the estate. As the Estate Trustee, your primary responsibility is to administer the Estate. Although by no means an exhaustive list, your responsibilities should include the following:

  1. Locating and examining the Will;
  2. Make proper funeral and burial arrangements;
  3. Confer with the lawyer who prepared the Will and those people who are familiar with the deceased’s affairs in order to obtain all information concerning the deceased’s private and business affairs and other pertinent information;
  4. Determine the names and addresses of those beneficially entitled in the estate;
  5. Determine the full nature of the assets of the deceased and compile a list of same;
  6. Transfer cash, securities, jewellery and other valuables, real estate deeds, mortgage, insurance policies and other documents from the deceased’s business or residence to the Executor’s safekeeping;
  7. Ensure adequacy of insurance on real estate, household contents, automobiles and other property;
  8. Arrange for listing of contents of safety deposit box;
  9. Arrange for protection and supervision of vacant real estate;
  10. If private business is involved, take immediate steps to ensure continuity of operation and arrange for competent management;
  11. Consult with the deceased’s banks and other financial institutions holding cash and securities;
  12. Employ a solicitor to advise you in the administration of the estate;
  13. Instruct your solicitor to apply to the Ontario Superior Court of Justice for appointment of Estate Trustee; 14. Determine all of the debts of the estate and arrange for payment of same;
  14. Contest and/or settle any debts if you are not satisfied that such debts are legitimate debts of the deceased;
  15. Determine the income tax liability of the deceased and of the estate;
  16. Distributing the assets of the estate in accordance with the provisions of the Will.

Please Note: This information is not intended to contain advice specific to your situation. There are no cookie cutter solutions. After all, you are reading this information on the internet. Your situation is special and unique and you must be guided by specific individual advice from your Lawyer, Certified Financial Planner or Accountant.



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