When you think of what will happen to your assets and belongings after you die, you may have in mind a particular person who is very fond of a special heirloom, or grandchildren you want to reward for completing their education. Perhaps you expect to leave a little...
If someone you know has asked you to take the role of estate executor after they die, you can be sure it is an honour. On the other hand, perhaps you have recently been surprised to learn that a loved one designated you for this task in their will without discussing...
Perhaps one of the most misunderstood elements of an estate plan is the power of attorney designation. Unfortunately, because so many do not understand how it works or they fear losing control of their estate, they omit this important document from their estate...
When you accepted the job of carrying out the last wishes of your loved one, you may not have fully understood what you were getting yourself into. Now that the time has come for you to take on your duties as an estate trustee, it would probably help for you to gain...
If you are asked to execute a loved one's will, it can seem like a tremendous honour. However, it is also a significant responsibility and can come with many challenges. Before agreeing to take on this responsibility, executors should be aware of what...
When picking an executor, it is common practice to select a trusted family member and someone who lives nearby. However, for Canadian residents from immigrant families, this can be tricky advice to abide by. Your preferred executors are typically your most...
It's no secret that estate administration takes a great deal of work and attention. Often, the individual chosen to execute a will is one with certain professional skills, such as financial management, organization and communication.These individuals may be wary about...
When a person passes away, many individuals may be responsible for supporting the estate administration process. This can include professionals, like lawyers and financial advisors, as well as executors and trustees named in the will.Legally, members of certain...
Many people who live in Canada may have trusted friends or family in another country. When developing estate plans, it can be tempting to name their most trusted and reliable loved ones as executors, regardless of their location and residency.While the individual may...
When a person passes away, the individual responsible for overseeing the estate administration process is usually an executor. However, Ontario residents who choose to put some or all of their wealth in a trust will also name trustees. This person or persons are...
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