Ontario Executors Require Answers to Questions: When should executors get help from professionals?

When should executors get help from professionals?

The sooner you get advice the better. You want advice to protect yourself and the estate.

Don’t assume that the same professionals the deceased used will meet your needs or standards.

You can interview or meet with several lawyers before you hire one. In Ontario, any provision in a will asking you to hire the lawyer who made the will is not legally binding. Lawyers must confirm they gave you this advice before you hire them.

Preparing papers to probate a will is legal work. It is not your job as executor. Your lawyer should explain the difference between executor and legal services.

You pay professionals out of the estate funds. Be sure to ask your lawyer to explain your responsibilities and deadlines.

Record the advice you receive from your advisors. Bad legal advice may not be a defense if you make mistakes.

You need professional investment advice to handle stocks and bonds. As an executor you need not be perfect. You must act like a prudent person would in similar circumstances.

About Edward Olkovich

I am a Toronto estate lawyer and Certified Specialist in Estates and Trusts Law. I edit Carswell’s legal guide Compensation and Duties of Estate Trustees, Guardians and Attorneys. I have handled estate disputes and probate problems since 1978. © 2015

Posted In: Advisors, Executors On: May 27th, 2016

“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