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Estate Administration

Estate Administration

Many people do not wish to burden their family or friends by appointing them as executor, or may not have a suitable person in mind. This overwhelming job can take, on average, 1-2 years with over 100 tasks to complete. As your executor, we perform all the tasks required to settle your estate.
 
Personal Estate Plan Brochure

We can help individuals and families who:

  • Have trusted family members or friends, but those individuals do not have the time, experience, or specialized expertise required to administer an estate or manage a trust.
  • Have trusted individuals who are elderly, may no longer be able to act in the future, or could predecease them.
  • Have family members or trusted advisors who live in another province, country, or legal jurisdiction.
  • Have loved ones who are balancing demanding careers, young families, or other personal responsibilities.
  • Would like their chosen executor, attorney, or trustee to have the full support and guidance of an experienced professional.
  • Would like their chosen executor, attorney, or trustee to remain involved while receiving partial administrative and fiduciary support from a professional.
  • Do not have an appropriate family member, friend, or advisor to appoint.
  • Want the peace of mind that comes from knowing an independent professional will ensure their wishes are carried out properly and efficiently.

Who Can Benefit From Our Services?

  • Individuals who don’t have someone suitable to appoint.
  • Families whose chosen decision-makers need professional support.
  • Those with family members who live far away or have busy lives.
  • Individuals seeking an independent, experienced professional to act on their behalf.

Legacy Private Trust Can be Appointed as:

  • Sole executor
  • Co-executor with a family member or trusted friend
  • Alternate executor for both spouses if the primary executor is unable or unwilling to act when the time comes
  • Agent to an individual who is acting as Executor, to help them with some or all of the tasks involved

Duties and Responsibilities Include:

  • Coordinating any funeral arrangements
  • Meeting any of the beneficiaries’ immediate financial needs
  • Meeting with family and beneficiaries
  • Making a careful inventory of the estate’s assets
  • Valuing the estate as of the date of death
  • Applying to the court for probate and paying probate taxes
  • Communicating with any beneficiaries and providing regular updates
  • Insuring estate assets
  • Oversight of estate investments and investment manager
  • Preparing, filing and paying final taxes
  • Cleaning out the deceased’s homes
  • Applying for a final tax clearance certificate
  • Setting up any ongoing trusts or charitable foundations
  • Distributing specific personal estate effects according to the Will
  • Preparing an accounting of receipts, disbursements, investments, liabilities and compensation
  • Returning all government-issued identification
  • Selling the deceased’s home and other real property
  • Ultimately, distributing the assets to the beneficiaries

Next Steps

For more information on Estate Administration or about Legacy Private Trust, please contact us. We would be pleased to schedule a phone call or meeting with you to discuss your situation and work with you to see how we can help.

“The job of executor is no longer considered an honour. It can take, on average, over 160 hours of complex work.”

-Carolyn Love