Jun 24, 2022
Everything You Need to Know About a Last Will and Testament in Ontario
A legally binding will is the foundation of any good estate plan. Here’s why creating a will doesn’t need to be an intimidating experience.
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When someone chooses who the executor of their will should be, they are making a big decision that will affect their property, their loved ones, and the executor themselves. After all, the executor will be responsible for administering the directives of the testator’s will, working with the probate court to ensure that their assets are properly distributed, and that fiscally responsible decisions are made on behalf of the estate. This is a position of great responsibility, and the executor must act on the testator’s behalf to ensure that the assets are allocated properly.
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That’s why it’s so important to ensure that the potential executor is aware of all the responsibilities they’ll have to shoulder, and for the testator to be very deliberate about their choice. While many may choose to name their spouse, their child, or their next of kin, an executor can also be a friend or a distant relative. There are a few things to consider when choosing an executor:
The team at ClearEstate can help with all estate planning needs, from naming guardians of minor children to distributing assets to finding the right estate executor to work with the probate court. Give us a call today or visit us online to learn more.