Estate Executor
Service Description
Estate Executor , insured, fully qualified and experienced, fees according to Government regulations. Summary of Duties: • The Executor must carry out the instructions of the deceased as stated in their will including distributions to the beneficiaries. • Executor must have adequate liability insurance. • Obtain Death Certificate, open an Estate bank account, funeral arrangements if no pre-arrangements. • Securing assets, review insurance coverages for assets if required, appraisals if required, convert assets to cash for future distribution according to the will. • Pay all debts and taxes of the deceased. Advertise for creditors. • Ensure that the Estate Lawyer completes the following: 1. Certificate of Estate (probate) if necessary. 2. Estate Information Return (present financial records to the Court for approval) 3. Obtain final signed releases from all beneficiaries. • Accounting: reporting to Beneficiaries, etc. including assets, liabilities, receipts, and disbursements of the Estate. Disbursements will include the Executor fee. • Cancel all obligations of the deceased such as memberships, subscriptions, utilities, insurance, credit cards, etc. Advise appropriate institutions to stop payments such as OAS, CPP, Pensions, etc. • Arrange care for dependent children and pets if applicable. • Oversee the preparation, filing and payment of required income tax returns and once completed apply for a Clearance Certificate from Canada Revenue Agency which confirms that all tax liabilities have been settled. • Make initial distributions to beneficiaries and eventually final distributions to beneficiaries once all obligations of the Estate have been paid and a Clearance Certificate has been received from Canada Revenue Agency. • Invest Estate funds in interest bearing investments until final distributions to beneficiaries are made. • Apply for any benefits receivable on death such as Canada Pension Plan death benefit, life insurance, pension benefits, etc. If applicable apply for CPP survivor’s pension and transfer of other health benefits. • If applicable invest assets for Trusts established by the Will. • Close estate bank account