Being an executor comes with immense responsibility. An individual may appoint one of their family members, friends, colleagues, or anyone they trust as an executor of their will upon their demise. If there is no will or if the appointed executor cannot perform their duties, the BC court can appoint an administrator to take up the same responsibilities.
Here is a quick executor checklist for British Columbia which is also applicable to an administrator:
An executor is anyone appointed by a person to execute their will after their demise. They shoulder the responsibility of paying the deceased person’s debt and distribute the net assets among the nominated beneficiaries.
In British Columbia, an executor is expected to perform a range of different duties, such as paying off the will creator’s debts, organizing their funeral, distributing their assets to the beneficiaries, and managing their assets as they wished. They are also responsible for communicating with all relevant parties and looking after taxation on the will creator’s behalf.
Probate is necessary in BC only if the deceased person’s estate exceeds the value of $25,000. If they have prepared a will, the executor will need to apply for probation. They will need to gather all necessary documents (including the will’s original copy), inform the authorities and beneficiaries, and wait until the court gives them the probate grant.
At Cube Law, we understand the legal and administrative responsibilities of an executor. If you are appointed as an executor by your loved one, we will guide you in following all legal procedures as you perform your duties. From gathering documents to making a probate application, our lawyers will help you manage your loved one’s estate in the best way possible.
As an executor, you will need to act according to your loved one’s will. You will be paying off their debts, distributing their wealth among the beneficiaries, paying their taxes, and applying for a probate grant.
An executor should be well versed with the will they need to execute. They should have details about the appointed beneficiaries, the will creator’s debts, their assets, their financials, and everything they need to manage their estate after their demise.
An executor or administrator should confirm that the will creator’s tax returns have been completed for the last six years. They are also responsible for filing any unfiled returns within six months after the will creator’s demise.
We know life can be challenging. Unforeseen circumstances and unplanned events can mean big changes. That’s why we’re here. We bring the right support, guidance, advice and assistance to help you navigate the tough times…and make life just a little bit easier to handle.
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