Pre-Arranging your Probate & Estate Settlement

ESTATES SETTLED IN HALF THE TIME
AT HALF THE COST

• Reduce Probate Costs
• Save Executor's Compensation
• Quick Probate (in weeks, not months or years)
• Save Estate Administration Costs & Delays
• Avoid Family Disputes & Claims

EXECUTOR’S CHECKLIST

The executor acts as the deceased’s alter ego: His or her fundamental role is to wind up the affairs of the deceased and distribute the Estate to those entitled. The duties of an executor include the following:

• Immediate Matters
• Interim Matters
• Final Matters
  

• Make funeral arrangements.
• Search for investments, ownership documents, bank accounts, cash, jewellery, digital assets, etc., and arrange for safekeeping and insurance.
• Open an estate bank account and collect payables to the deceased.
• Pay bills, funeral costs, mortgage payments, credit cards, taxes, etc.
• Re-direct mail and cancel health insurance coverage, driver’s licence, cable, telephone, club memberships, subscriptions, credit cards and obtain any refunds.

• Prepare inventory of all assets including real estate, investments, bank accounts, digital assets and life insurance.
• Locate the Will and instruct a lawyer to apply for Probate (if required).
• Re-register assets in estate’s name.
• Make an interim distribution to beneficiaries maintaining a reserve for debts, taxes and executor’s compensation.

• Deposit monies into an estate account and/or invest the estate balance in interest-earning investments pending final distribution to beneficiaries.
• Arrange rollover of RRSP, RRIF and TFSA to the surviving spouse or to a designated person. Apply for any benefits payable on death including CPP death benefit, life insurance proceeds, death benefits from pension plans or annuities, and deposit in to the estate account.
• Prepare and maintain Estate Accounts for approval by the beneficiaries or examination by the Court (informal accounts unless formal Estate Accounts are required by the beneficiares).
• File income tax returns for the year of death and obtain a Clearance Certificate. Obtain releases from beneficiaries, pay legacies and transfer bequests (or Fund Testamentary Trusts) as provided for in the Will.