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.