Estate Administration

Many people agree to be an estate trustee at some future date, without having a true understanding of what it entails. And when someone dies and you are thrust into that role, it can be very overwhelming. You may be thinking: where do I even begin?

Acting as an estate trustee is an important role, and ensures the wishes of loved ones are met. However, the role can be complex, the list of tasks to complete is lengthy, and you will often need legal assistance along the way. You may also be eligible for compensation. The main thing to keep in mind is that an estate trustee has an obligation to the beneficiaries and the creditors of the estate. The basic steps include:
  1. Plan the funeral
  2. Find the will
  3. Retain the lawyer
  4. Pay outstanding taxes and debts
  5. Locate guardian and dependants
  6. Deal with assets
  7. Maintain estate accounting
  8. Distribute assets
  However, there will often be issues that arise on the way that will require assistance. Our Estate Law Group can help estate trustees with every step of the administration process, including:
  • Locating beneficiaries and distributing assets
  • Estate accounting
  • Beneficiary reporting
  • Passing of accounts
  • Estate administration tax
  • Administrative Bonds
For more information about Estate Administration, contact our Estate Law Group.

Have Questions?

Related Posts

Estates Law
Blog
Reading time: 3 mins
A stroll to your nearest office supply store, or a five-second Google search will generate numerous “do-it-yourself” Will Kits promising[...]
Estates Law
Blog
Reading time: 4 mins
Dealing with the loss of a loved one is already an emotional time. Dealing with their life investments and assets[...]
Estates Law
Blog
Reading time: < 1 mins
Nuwanthi Dias joins CTV’s Ask the Expert to answer commonly asked questions about creating a Will and planning your estate.[...]