When an Ontario resident dies, it is up to the people he or she designated to take care of all outstanding matters and property distribution. This often means probate, but that may not be the only aspect of estate administration of the decedent’s affairs that someone to handle. If a trust was set up prior to death, taking over the duties associated with it is crucial.
If you are the person your loved one designated to serve as the trustee of his or her trust, you have several duties to attend to both immediately and over the life of the trust. One of them involves working with the beneficiaries of the trust, which could require some finesse. If the personalities do not work well together, you may need a neutral third party such as a lawyer to assist you.
You could also have dealings with other third parties such as tax authorities, accountants and more. In addition, accounting obligations, court processes and litigation could also create a need for some experienced advice and guidance. Being a trustee involves many duties that you must carry out to the best of your abilities. If you do not, it could end up costing you personally.
For this reason and others, it would be a good idea to consult with an Ontario lawyer who can provide you with the information and help you to fulfill your obligations to the trust and the beneficiaries. In addition, should any issues arise that require litigation, you will already have a working relationship with someone who can help. Serving as a trustee for a loved one who has passed away can be an intimidating yet rewarding part of the estate administration process, and an experienced estate administration lawyer can help you every step of the way.