1. Estate Executors: appointing and being appointed
Kristin Yarish
June 20, 2017

2. Outline What is an estate executor? General duties of an executor
How to choose an executor
Should you act?
Questions

3. What is an Estate Executor?
aka trustee, personal representative
Executor vs. Administrator
Appointed in a Will or other testamentary document
Derives authority from the Will

4. General Duties of an Executor
Read the Will
Decide if you want to act
Notify beneficiaries (informally)
Make funeral arrangements

5. General Duties of an Executor (cont’d)
Dispose of perishable items
Make an asset inventory (as of date of death)
Make a debt inventory (as of date of death)
Advertise for creditors
Apply for a grant of probate (as required)

6. General Duties of an Executor (cont’d)
Set up a bank account for dealing with estate funds
Collect and protect assets belonging to deceased
Complete and file income tax returns
Pay debts

7. General Duties of an Executor (cont’d)
Accounting
Distribute property in accordance with the Will
Administer trusts created in the Will (ongoing)

8. How to Choose an Executor
Considerations:
Family member, close friend, trust company
Honest, responsible, organized, competent
Alternate vs. co-executor
Age

9. How to Choose an Executor (cont’d)
Considerations:
Willingness
Proximity
Complexity of your estate
Potential for dispute
Grief

10. Should you act? Considerations: Are you capable? Do you have the time?
How complex is the estate?
Are you a beneficiary?

11. Should you act? (cont’d)
Considerations:
Liability
Who will act if you don’t?
If there is the potential for a dispute, can you be objective?

12. QUESTIONS?
Kristin Yarish, Lawyer Field LLP 400 – 444 7th Ave. SW Calgary, AB T2P 0X