Professional Help Allowed for Executors During Probate
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Professional Help Allowed for Executors During ProbateJeff Kahane2020-04-26T17:22:36+00:00
Who Executors Can Turn To For Help
Being named executor of a will and having to probate an estate can be an overwhelming proposition. Even if you have done so before, each step can be time consuming and full of legal hurdles. The good news is that most wills allow executors to get professional assistance when probating an estate. Even if probate is not required, professional assistance is generally available. Specifically, this means that the executor does not have to pay for these services out of his or her own pocket. The estate pays these expenses as part of the probate or estate administration process.
Executors can get Legal help when probating an estate
Who can an executor turn to when probating an estate?
Estate lawyers can help administer the estate for executors. Whether there is a will and probate is required, or if there is not will and a letter of administration is required or if neither is required because of the simplicity of the estate; lawyers can help.
An estate lawyer can help you gather the financial information required, help with getting insurance proceeds, the probate process, notifying beneficiaries, serving proper notices and finalizing the estate.
Estate accountant can help during the probate process by properly filing the final tax return of the deceased. It is important that all the final debts of the estate are paid, including the Canada Revenue Agency. Before funds are distributed, you may need to receive a clearance certificate from the CRA. This ensures that there are no outstanding debts owing to them and protects the executor. Accountants can help with this process. Learn more about clearance certificates by clicking here.
A trust company can help with the entire process of winding up an estate. Their fees are a percentage of the value of the estate but they basically take over the entire job of administering the estate for you. Some people chose to name a trust company in their will as the executor of the estate.
Real Estate Agents
If the deceased owned real property (land), the executor can hire a real estate agent to sell the property for them. Properly, the listing and subsequent sale of the property cannot happen until the probate application has been completed.
There are some companies that deal with the physical assets of the estate. Essentially they coordinate the sale of the chattels. This is often done by selling individual higher value items through the newspaper, auctions or eBay and then having a series of garage sales to sell of the remainder of the estate. Left over items are then donated to charity or otherwise disposed of.
Getting the help executor’s need when dealing with probate
Our Calgary estate lawyers will help you understand the process of administering an estate, probate or intestate estates. Kahane Law Office would be pleased to assist you in all matters relating estate administration. Call 403-225-8810 or contact us online to learn more and book your no charge initial consultation today.