Having a valid will is one of the most important steps towards building a complete estate plan Yet, according to a recent article on the CBC, more than half of all... Read More
In the aftermath of the death of a loved one, dealing with any necessary logistics related to their estate can be overwhelming and stressful. However, if you have been named as an executor, there are several legal issues that must be addressed right away to effectively manage risks and liabilities, protect the estate, and ensure beneficiaries are taken care of.
The experienced and compassionate estate lawyers at Arbesman Hamilton LLP in Toronto can assist you with the daunting task of acting as an executor of an estate. Our lawyers will help you make informed decisions to avoid unnecessary and expensive disputes by beneficiaries.
An executor is the person appointed in a will to carry out the wishes of the testator (the person making the will). Often, the person who has been named an executor has never acted in this capacity and does not necessarily understand the importance of this function, his/her duties, and the risks they face. As a result, it is highly advisable for anyone who has been named as executor to retain an experienced estate lawyer as soon as possible to guide them through this role.
Most critically, an executor owes a fiduciary duty to the beneficiaries. All decisions made by an executor, as well as his or her actions, are subject to a very high legal standard. Executors must always act with integrity and in good faith, and make all decisions in the best interest of the beneficiaries. Any breach of this fiduciary duty can have very serious legal and financial implications.
The estate administration lawyers at Arbesman Hamilton LLP have extensive experience helping executors with everything from the Application for a Certificate of Appointment of Estate Trustee (whether the deceased had a valid will or died with or without a will) to the passing of estate accounts.
We can also help executors:
At Arbesman Hamilton LLP, we can help you as little or as much as you like – from simply drafting documents to acting as your agent in all your executor duties. We work with executors on a one-on-one basis to ensure they receive the personalized advice they need to effectively and lawfully carry out their duties and obligations. Contact us online or at 416-481-5604 to book a consultation today.
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