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01 FEB 2020

We Can Help with Estate Needs both Estate Planning and Estate Administration.

The death of a loved one can be difficult even if Estate Planning was done. In addition to the funeral wishes there are often legal questions about executor duties and creditors and timeline for inheritances etc even if the Will does not need to be probated. Unfortunately, to make the legal issues more difficult, Executors are sometimes given confusing if not just wrong information about Executor liabilities by people who are not experienced estate lawyers.

With our decades of experience with family law as well as estate issues, we understand both the emotions and legalities involved. We Can Help – the benefits to you include peace of mind by having a reliable law firm guide you in the tasks the Executor must complete, and handling the legal tasks the Executor can delegate.

As we tell all our family clients, counseling does help the emotional transition from the present to the future. For estate tasks and legal issues, you need an experienced law firm.

For Estate Planning, the documents can include the funeral plan, a Power of Attorney, a Health Directive, a Nomination of Committee, and a Representation Agreement as well as of course a Last Will & Testament.

For Estate Administration, the legal procedures can be organized in three general stages which include a number of duties the Executor must complete, including the following:

- First Stage, to identify, secure and protect all possible estate assets and debts of any kind; and to identify all the possible beneficiaries. We recommend a three ring binder be used by everyone for their Estate Planning to reduce the burden of their Executor, then the three ring binder is used by the Executor to update with all current and related documents so you can review them with your estate lawyer to confirm the duties and liabilities related to each asset and debt;

- Second Stage, if not done in the First Stage you need to confirm the Executor’s authority to represent the estate such as by probating the Will which is a court application; then to pay all proper estate debts thus it is very important and helpful to obtain in the First Stage true copies of all documents related to all alleged debts as well as all assets, so your lawyer can clarify and confirm whether the estate is actually liable for each debt since creditors just want payment even if no one living is liable. It is often a comfort for the Executor as well as a prudent step to make a formal advertisement for creditors ASAP so that there is a deadline for creditors to make a claim against the estate assets – otherwise the Executor can be personally liable for unpaid estate debts;

- Third Stage, to distribute the estate assets, after all estate debts have been paid including CRA, to the beneficiaries who are often as impatient as the creditors.

If you would like our experience and support, We Can Help anywhere in Metro Vancouver and Beyond including Victoria.

778-728-0208; [email protected]

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14 February 2020

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15 January 2020

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