Wills, Trusts & Estates
Helping You Navigate Through the Complexities of Estate Administration & the Probate Process
By failing to meet these technical requirements and/or breaching their fiduciary obligations, personal representatives may expose themselves to potential personal liability under the Income Tax Act and the creditors of the deceased. The estate lawyers at BKS Law will guide you through the process of estate administration. We will advise you of your fiduciary obligations, help you perform your duties with greater efficiency, and assist with protecting you from personal liability.
Duties of a Personal Representative
The personal representative of an estate, also known as the administrator or executor, has many responsibilities, including:
- Gathering in and safeguarding the assets of the estate.
- Paying the debts of the deceased and estate.
- Distributing assets to beneficiaries.
- Filing the deceased’s final tax return and estate returns.
- Cancelling the deceased’s charge accounts and subscriptions.
- Informing government agencies, such as Canada Pension Plan, about the death.
- Preparing an estate accounting for the beneficiaries.
The Lawyer’s Role
- Handling all aspects of probate and estate administration. This includes identification and notification of beneficiaries, preparation of applications for estate grant (a grant of probate or letters of administration), probate filings, and, if requested, assisting in the distribution of assets and payment of debts.
- Assisting with the disposition of assets such as real estate.
- Preparing releases to protect the personal representative.
- Preparing accounts of the personal representative for approval by beneficiaries of the court.
- Advising as to executor’s fees.
- Issues related to intestacy (when a person dies without a will).