When Do You Start Work as An Ontario Executor?
The best answer is, before someone dies.
Some people are meticulous about how their personal effects are to be divided. Personal effects, unless extremely valuable, are not usually itemized in a person’s will.
Most people do not sweat making a list of their contents. This is not necessary when you prepare your will. You may or may not wish to leave the contents of any residence to the beneficiaries of the property.
You need to know if it is your responsibility to sell contents. You then hand the money to a particular person or it is part of the estate.
Ask These Questions as Executor
If you are not an immediate family member, you will need information to contact the beneficiaries of the estate. You should know whether there is a separate will for a business or valuable personal collections.
You will need to collect original documents, such as:
- The original last will (It may be with a lawyer)
- Divorce papers, prenuptial, separation or domestic contracts
- Income tax material
Financial and Tax Matters
• Who does your income tax filings?
• Is there a list of bank account numbers or digital passwords?
Wills are private and subject to change by a codicil or new will.
Need information to start your work as executor? Contact me today.
Estate law is all I do.Posted In: Estates, Executors On: August 16th, 2023