Executors Beware – it’s not an easy job – We can help
Article by: NOREEN RASBACH
Published in: The Globe and Mail
Published on: Wednesday, Aug. 15, 2012
This is a fantastic article that explains some of the things involved and the potential difficulty in becoming or being appointed as an executor.
Keep in mind, Executor Made Easy can help!
Below is the introduction to the article by Noreen Rasbach:
When the time comes, however, experts say that sentiment will be tempered by the task at hand – a pile of work.
Not only will administering the estate take at least a year – more likely 18 to 24 months or longer if the estate is particularly complex – but the work will be done during a period of emotional turmoil – both in grieving for the deceased and in navigating family tensions over how the estate is divided.
Chester, the cat. An increasing number of Canadians want to make provisions for their pets just as they would for any other loved one, says Saman Jaffery, a Toronto lawyer.
On top of that, experts say, executors are financially liable for their mistakes and are increasingly being held to account both by beneficiaries and by the courts.
The executor’s job is to gather up all the assets that the deceased owned, pay off his/her debts and ultimately distribute what’s left in the proportions as set out in the will, says Leanne Kaufman, the Toronto-based vice-president of the Professional Practice Group at RBC Management and author of The Executor’s Handbook.