Ontario Executor Services: Tips to Avoid Costly Mistakes

Some things you can do by yourself. Take advantage of professionals. Have tax professionals confirm income tax filing deadlines especially if a business is involved. Lawyers can identify your specific duties, and areas of concern from the will. Only lawyers can give legal advice about what the will means and requires you to do.

Hire lawyers if you need court orders to freeze estate assets. By now you may have had initial contact with lawyers, tax experts, appraisers, real estate agents, bank managers, next of kin and beneficiaries named in the will.

Assist any persons and pets in need, secure laptops and smart phones. Don’t forget to change locks to properties. Identify what assets need insurance. Find out what to do with empty dwellings. Are investments diversified or risky? Get professional investment advice to avoid financial loss.

Your executor superpowers come from the will. Financial institutions need probated wills that are court-certified to release assets. You can wait months to get courts to probate wills. You can cancel some services with proof of death and a copy of the will. Letters from lawyers may help if wills look sketchy or are handwritten.

Prepare checklists to prevent estate waste or theft. Consider what digital assets you can handle. List contact information for beneficiaries. Keep beneficiaries informed during your executor journey. Have you obtained access to any bank safe deposit box? List all bills that need to be paid in your checklist.

Know the differences between legal services and executor work. You do not need to perform legal work. You can pay for legal work from estate funds. You do not need to perform work a reasonably prudent person cannot do. You may use agents to assist you with administrative tasks. However, you cannot delegate your decision-making responsibility.

You can collect investments and sell assets once the will is certified. You probate wills in Ontario by applying for certificates of appointment as estate trustee with or without a will. That’s when you pay upfront Ontario’s probate or provincial estate administration tax (EAT). Courts can take months to process estate certificates depending on volume.

Collect information for the provincial Estate Information Return (EIR). This return reports 5 different asset categories. These include bank accounts, Ontario real estate, businesses, vehicles and investments. Understand your duty to report if you later find more assets. As of March 3, 2025, you can file this form electronically.

Track your time. You may spend six hours, six days or six weeks to create an estate inventory at this first stage of work. Track your time and what troubles you had. You need a probated will to sell assets. This requires you to apply for an estate certificate to validate the will. That’s when you pay Estate Administration Tax (EAT).

I can help you understand your responsibilities as an Ontario executor. Do you have questions about what to do next as executor? Contact me for a meeting to discuss a review of the will. I look forward to helping you.

As an Ontario Certified Specialist, estate law is all I do.