The legacy of love blog

When Should You Refuse to be an Executor?

executor Dec 01, 2018

WHEN NOT TO BE AN EXECUTOR

Many people feel honoured when they are asked to be the Executor for a friend or family member’s estate. When someone asks you to be their Executor it feels terrific; they are indicating that they believe you to be trustworthy and have good judgement. For many of us, this gives us a great feeling of pride, and we want to fulfil our duties to the best of our abilities. Sadly, many people discover that it is much more difficult than they realized.  In my...

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Beware of choosing a U.S. resident as your Executor

executor Oct 25, 2018

The global reach of our economy has provided increased opportunities for our family members to work and study outside of Canada. More and more, our family members are moving to other countries to gain experience, launch their professional careers and take advantage of exciting opportunities.

When creating an estate plan, many families look to their adult relatives to act in the role of Executor and trustee of their Wills. Choosing a competent person for this role is critical to the ensure a...

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Tailored Estate Law Services for your needs

estate executor Jul 11, 2018

No matter how much Estate Planning you engage in, there will almost always be some level of estate administration which must be performed after your passing. Estate Connection can assist in numerous aspects of Estate Law services and help remove the burden from the shoulders of your loved ones.

Grants of Probate

When a loved one passes and leaves a will, that person’s estate is considered to be a “Testate Estate.” The estates executor, or the personal representative named to...

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Choosing your kids as Executors and why it can be a mistake

executor trust company Mar 01, 2018

We all hope that when we are gone, our family members will work together to settle our estate.  Unfortunately, our office sees many estates where the testator created a Will filled with some common problems.

One of the most common problems we see is where a testator appoints all their children as their Executors.  This is a mistake.

If your family members do not get along, they are not going to suddenly be able to get along and work together after your...

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Can an Executor distribute the estate without a Clearance Certificate from the CRA?

estate executor Dec 16, 2017

A Clearance Certificate is a document that you receive from the Canada Revenue Agency that states that all the taxes owing on the estate have been paid.

The Executor should request this certificate to ensure that the estates taxes have been paid. The concern is that the Executor may distribute the estates property to the beneficiaries and then later discover that there are taxes owing. If taxes are found to be owing after the distribution, the Executor could be held personally liable for...

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Should I appoint more than one of my children as my executor?

executor Oct 29, 2017

Your Executor/Executrix* is the person that carries out the provisions of your will and settles your estate. It’s not an easy job, and it requires a significant investment of time, emotions and resources. You may think that sharing this responsibility among your children will make things easier for them, but that is not the case.

An Executor has to make firm decisions, sign off on documents and provide input into often sensitive situations. Having to constantly chase another person to...

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What does an Executor do?

executor will Oct 22, 2017

An Executor is the person appointed by the testator (the person that created a will) to carry out the provisions in the will and see to the settling of the estate. Asking someone to be your Executor is not an easy task. This person will become responsible for nearly 150 duties after your death, including:

  • Checking for insurance on the deceased’s life and property
  • Securing the list of the deceased’s property and arranging for the property to be safely stored
  • Ensuring buildings are...
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Can I sell estate property before getting probate?

executor probate Oct 01, 2017

It can take weeks to receive a Grant of Probate from the Alberta courts, and Executors are usually under pressure from beneficiaries to wrap up the estate quickly.  As a result we often meet Executors who are in a hurry to sell the house or other property in the estate. This is particularly true if the real estate market is in the seller’s favor.

Executors and beneficiaries don’t always want to wait until they’ve received the paperwork from the court and this can be a...

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What happens if your parents owe money when they die?

debts estate executor Sep 18, 2017

We recently had a client call our office asking a question we hear all the time… “What happens if my father dies owing more money than he has in assets? Will I be personally responsible for paying his debts if I am his Executor?

You will not be personally liable for your father’s debts when he dies. You may however, be taking on a difficult estate where you will be required to negotiate with creditors and possibly even place the estate into bankruptcy to deal with...

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The probate process and beneficiaries

executor probate Apr 12, 2017

Families, Estates, and What You Leave Behind

The hardship on individuals and families can be substantial upon the death of a loved one. When there are no known beneficiary designations of property and assets for passing onto beneficiaries or heirs, it can become difficult and emotionally taxing for successors to speculate at the deceased’s final wishes.

For this reason, when a person dies testate, (dies leaving a will) there is a legal process of settling a debts and distributing...

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