Costly Mistakes Ontario Executors Must Avoid

Executors must not …

  1. Forget to keep estate assets productive (invest funds, collect rent).
  2. Try to hand over your responsibility for the estate to someone else.
  3. Quit while administering the estate without court approval.
  4. Distribute estate property, pay debts, or sign any documents before talking to a lawyer.
  5. Buy and sell assets or estate property without an estate certificate, even if the price is fair.
  6. Borrow estate funds or loan money to the estate, regardless of the security or interest rate.
  7. Mix your money with estate money. You must keep separate records and accounts for estate funds.
  8. Fail to exercise reasonable care and skill to protect estate property.
  9. Forget to take control or possession of estate property to protect it.
  10. Knowingly permit a co-executor to breach their duties.

Your Executor Duties Make You Responsible for Your Mistakes

Handling an estate is complicated. Research proves that people don’t know what to do. Read my free report, Suddenly You’re an Ontario Executor.

You will learn how to:

· reduce the stress of being an executor
· take inventory of the estate and distribute assets
· use your powers wisely as executor
· organize yourself to save time and money
· deal with professional advisors

Want more executor information?

Are you interested in a consultation with Ed? Take advantage of Ed’s $375 meeting to discuss your needs. Set up a meeting.

Estate law is all I do.

Ed Olkovich