The legacy of love blog

Can an Executor be liable for the deceased debts?

executor & estates Jan 24, 2020

In Alberta, the Estate assets must be used to pay any outstanding funeral expenses, burial expenses, taxes, credit cards or other debt. Distributions to beneficiaries cannot be done until all debts are paid.

What happens if there are not enough assets in the estate to cover the debts?

Only the Estate is responsible for the debt. If there is a shortfall, the PR cannot be forced to pay any of the debts out of their own pocket, unless their actions have created the inability to pay the...

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Resealing Foreign Grants

executor & estates Jan 04, 2020

We regularly act for lawyers and clients throughout the world. We have completed Canadian Probate applications from Thailand, United Kingdom, Germany, Spain, Texas, Hawaii, New York, North Dakota, and recently handled an estate in Scotland that had a resealing issue.

Our office can be appointed to act as the executors' agent and to call in the assets of the estate and wire the proceeds to beneficiaries. The most recent Scottish Estate application we handled took almost 12 months and...

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Should I appoint joint executors in my will?

executor & estates wills Jan 01, 2020

A Co-executor is by definition are a bunch of people who work on an estate together. They share in the duties and responsibilites of the estate work. Co-Executors are to work together and be of one mind on all estate decisions. An exception to this rule, is where the will specifically says if the co-executors do not agree then a majority vote allows executors to act in a certain way.

Having all co-executors agree on anything is frequently impossible. This is to be expected when you have...

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How long does it take to deal with an estate?

executor & estates Dec 11, 2019

In Alberta, there is a common-law rule of thumb that an executor has one year from the date of death to complete their administration of an estate. This means that they have 365 days to collect in estate assets, pay estate debts and liabilities, and distribute the residue in accordance with the terms of the Will. Sometimes, this rule of thumb is followed and an executor successfully completes all of their duties within one year. Other times, and generally when the estate is more...

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Do I have a right to be shown the Will?

executor & estates wills Nov 29, 2019

Every month, our office receives calls from people who are seeking legal advice on their right to view a Will. They tell us that the executor of an estate is refusing to show them the document and they want to know what their rights are; and the answer to this depends on who they are and what their relationship is with the deceased. Let us explain.

An executor is entitled to maintain the privacy of the deceased. There is no legal obligation for them show the Will to...

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The Taxman and Executor Compensation

executor & estates wills Nov 28, 2019

An executor recently reached out to us to let us know that they were unhappy with having to pay the CRA tax on their remuneration for acting as executor of the estate. 

Paying taxes suck. We all hate paying taxes. Being paid for being an executor is no different then picking up a pay cheque for your work as a  teacher, truck driver or business owner. Your being compensated for the work you have done and and this money needs to be declared to Revenue Canada.

Executor...

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Can you be held liable for the wrongdoings of your co-executor?

executor & estates Nov 14, 2019

It is an executor's ethical responsibility to act in the best interest of the estate; but what happens when you are paired with a co-executor who is acting irresponsibly? Can you be held liable?

In general, a co-executor can only be held liable for their own actions, inactions, errors, or for assets that they personally dealt with. This rule protects them from liability in situations where they were unaware of their co-executor taking money from estate bank accounts, selling...

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Can an executor be held liable for the debts of an estate?

executor & estates Nov 14, 2019

Our office takes many of phone calls from executors who are worried that they will be held liable for their deceased parent or children's debts. In most these cases the deceased owed more money then they had in assets and was essentially bankrupt. There are three general rules that all Alberta Executors and Administrators must follow when they are administering an estate. The three general rules concerning executors liability that every executor should be aware of are: 

  1. An executor is ...
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Can you renounce your duties as executor?

executor & estates Nov 01, 2019

Being named as the executor of an estate is an honour, but it is also a major undertaking. It can be difficult, time-consuming and emotionally draining. You may not want to accept the position because you are either grieving or ageing, or because you reside outside of Alberta, are traveling abroad, do not have the time, do not have the knowledge, do not believe you can handle the position, or simply do not want to act - nor do you have to. It is important to remember that you have the...

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Executor Compensation in your Will

executor & estates wills Sep 12, 2019

Being an Executor (or personal representative as they are known in Alberta) is hard work. Once you have picked someone you trust who can be responsible to wind up your estate, attention to detail so they can deal with all the little things surrounding your demise, and the tenacity to keep going and complete the job until the end. 

When you ask someone to be your executor you are asking someone to take one year out of their life to wind up your property. In many cases the executor is not...

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