Certificate of Estate Trustee with a Will
The probate process entails obtaining a “Certificate of Estate Trustee with a Will” and paying the estate administration tax to the Province of Ontario.
A court issued “Certificate of Estate Trustee with a Will” will be required for all beneficiaries of the estate to access their testamentary gifts.
The Administration of the Estate Includes:
The administration of the estate is an onerous task which entails:
- filing the requisite returns with the Canada Revenue Agency;
- identifying and paying the estate’s liabilities;
- identifying and locating the rightful beneficiaries; &,
- distributing the assets of the estate in accordance with the provisions of the Last Will and Testament, or the Succession Law Reform Act.
In addition to:
In addition to the Executor and Trustee’s legal obligations, the administration of an estate involves the handling of dozens of practical matters such as making arrangements for the funeral, giving notice of the death to various government agencies, banks, insurance companies, closing out the deceased’s accounts (telephone, internet etc.), opening a bank account for the estate, and so on.
The Executor and Trustee is personally liable to the beneficiaries and creditors for errors committed during the course of the administration of the estate. Thus, it is strongly recommended that the Executor and Trustee seek the assistance of experienced legal counsel.