Responsibilities of an Executor or Administrator

Whether you are acting as an Executor or an Administrator, the steps in administering an estate are the same. Here is a quick overview…

• locate the Will, if there is one
• locate the assets of the deceased and determine their value
• obtain death certificate and notify various agencies of the death - some agencies will require a copy of the death certificate
• prepare a list of beneficiaries and their addresses
• file claims for life insurance, pension plans, death benefits
• pay funeral bills (banks may allow these to be paid directly from the deceased person's account if the bills are submitted to the bank)
• obtain the appropriate Court Order - Letters Probate or Letters of Administration, if required
• notify the Public Guardian and Trustee if there are any children under the age of 18, or dependant adults, who may have an interest in the estate
• advertise for creditors in the required form and manner to help protect yourself from liability
• call in the estate - gather the assets, plan for sale or disposition of assets not specifically left to a named beneficiary, place all monies from all sources into an estate bank account
• transfer Title of all real property to the estate
• pay the bills and debts of the deceased and the estate
• complete Income Tax Returns and obtain the necessary Income Tax Clearance Certificate required to complete the distribution of the estate
• keep complete records of all assets coming into the estate and going out of the estate
• obtain releases from beneficiaries required to complete the distribution of the estate or arrange for passing of accounts if there are any disputes among the beneficiaries - passing of accounts means asking the Court to approve your financial records of the estate and your plan for distributing the estate
• distribute the estate according to the Will or The Intestate Succession Act