When a person passes, it is normally up to the executor to take care of the estate. This may involve applying for probate of the will. If there is no executor named, if the named executor is unable to serve, or if there was no will, an individual can apply to a British Columbia court for letters of administration to let him or her fulfill the role.
Executors and administrators are held to high standards. Many seek legal guidance for the probate or administration process. Laughlin & Company Lawyers Mediators assist Port Coquitlam families with the legal issues that arise after a person’s passing. We can help you fulfill your responsibilities to the estate and prevent legal and family conflict.
Responsibilities Of An Estate Executor
Acting as an estate executor involves many specific duties, which include paying the estate debts and distributing assets to beneficiaries. The executor must generally take an inventory of possessions and property, and actively look for liabilities. Income taxes on the estate must also be paid and the executor is responsible for filing a final tax return.
Since executors are held to a high standard of trust, they can be held personally liable for wrongdoing. For that reason alone, it’s a good idea to consult legal counsel for advice on how best to handle an estate. Executors who retain legal counsel benefit from the appearance of impartiality. They are shielded from criticism from beneficiaries and family members since their duties are fulfilled with the assistance of unbiased, professional advice. Laughlin & Company can help ensure your actions are in line with your legal responsibilities and that you are personally protected.
To speak with a Port Coquitlam lawyer about probate, letters of administration and the responsibilities of acting as an executor, contact us for a consultation. Call the firm at 604-239-0800 or get in touch online. Our legal firm serves Tri-Cities clients from Poco, Port Moody, and Coquitlam.