Executors! You Need Crucial Estate Law Information

You probably did not ask to be placed in charge of an estate. You may have just inherited the executor job title. So, how will you define success as an executor? How will you cope with the realities of your job as executor?

Every executor must remember this: following local laws and customs will keep you out of trouble.

What does this mean if you are an executor of a will probated in Ontario and must sell a Florida property? It means you must follow the laws where the will is probated and those where the estate assets are located.

The only way to learn how these laws apply to you is from an experienced local lawyer. Trust someone who has handled a similar estate administration before.

You must not automatically follow information you find on the web.

Remember this as you search for executor information online. No one supervises what you read on various websites. There is no quality control. Even estate experts do not always post current information on changes in the law.

Besides, reading about changes in law is not the same as getting advice on how those laws apply to you. You could be reading a website run by non-lawyers. Some websites contain serious legal errors. Instead, executors must depend on experienced legal advisors to guide them. You may expect the estate to pay for this legal advice.

Look for Local Experts

Is ExecutorSchool.com any different because it is created by a lawyer?

ExecutorSchool.com gives you an educational program with strategies to cope with executor tasks. It cannot and does not offer specific legal advice.

Here is a question one reader sent in:

“Ed, does the information in Executor Kung Fu or ExecutorSchool.com apply in Hawaii?”

Answer: No book or course is a substitute for proper legal advice. Estate laws are different in each jurisdiction. In Ontario, where I practice law, we use the term estate trustee instead of executor. No book or course is ever a substitute for legal advice. ExecutorSchool.com is no different.

In some areas, estate courts are referred to as a surrogate, chancery or probate court. In some areas, the terms fiduciary or personal representative are used. What this means is that persons who handle estates may be called by different names. In Canada and the United States, the rules of common law usually apply. These rules apply but are subject to federal, state or provincial laws and customs.

ExecutorSchool.com is no substitute for legal advice. It will, however, offer you an organizational system and strategies to cope with the workload you did not ask for.

In my experience advising executors, I have found anything that helps them cope is beneficial. Keeping estate trustees worry-free and calm is appreciated.

I created the Executor Mantra to help executors understand their legal duties as fiduciaries.

As a lawyer, I research, write and advise executors daily. I know executors want to do the right thing. They want to stay out of trouble and make people happy.

I want ExecutorSchool.com to help you sleep at night. You don’t have to lie awake at night worrying about what to do.

But above all, you must understand that getting experienced legal advice is the most crucial information executors need.

About Ed

Edward Olkovich (BA, LLB, TEP, and C.S.) is a nationally recognized author and a Toronto estate lawyer and Certified Specialist in Estates and Trusts. Edward has practiced law since 1978 and is the author of seven estate books including Executor Kung Fu: Master Any Estate in Three Easy Steps. Visit his law firm’s website, MrWills.com, for more free valuable information. (c) 2014

Posted In: Executors, Probate On: February 27th, 2014

“I want to thank Ed and his firm for getting me through a very difficult time. He was recommended to me by another lawyer and I am grateful for that recommendation. Ed kept me grounded, listened to me, counseled me and supported me. I do so appreciate that. And he is worth every penny. Thank you!” - Claudia R, Toronto

“Thank you for your professional advice and lawyering while I was planning my will, all accompanied with your patience and a sense of humour.” - Valerie G, Toronto

“Ed is a "straight shooter" who tells it like it is and helps you make the best possible decisions in your circumstances. I've personally seen the "magic" he can work in an estate and recommend him without reservation to anyone who wants an iron clad will or estate advice and management that saves money, frayed nerves and friendships.” - Jim R, Burlington

I have used Edward Olkovich for my own Will and I was the executor of my Brother-in-law’s will. My brother-in-law had a terminal illness and Edward had us devise his Will to minimize taxes and problems. Ed is located locally @ Jane and Bloor. He was very knowledgeable, friendly and thorough and has written many books on the subject. - Belinda M, Toronto

Ed is a thorough, responsive estates lawyer who I would recommend to anyone when needing a will or dealing with estate issues. - Eva S, Toronto

Dear Ed and “Team Olkovich” “Thank you for your knowledge, expertise and hard work to make our executor duties (almost) stress-free. Will miss the laughs and stories you tell so well. All our appreciation always!” - Pat, Dave & John, Toronto

Dear Ed, Thank you for all your wisdom and kindness throughout the process of settling Ann’s Estate. - Cheryl, Toronto

“The easiest professional I had to deal with to settle my parents’ needs was Ed. I told him what we needed. He was gracious with his advice and help - without delaying matters.” - Iain N., Toronto

“Magic! The guy knows magic!” - Steve G., Toronto

“In the land of estate law, Ed is King.” - Cheryl W., Toronto