The Executor’s Role

Have 570 hours to spare?

Serving as the executor of an estate can be a challenging responsibility and requires significant effort over time: an executor in Canada spends hundreds of hours (on average 570) fulfilling his or her duties over a period of 3–12 months.

If a family business is involved, double those hours.

So, what takes all that time and effort?

First Week

Notify employer
Secure assets
Arrange funeral
Locate the will
Notify Veterans
Affairs Canada (VAC)
Order death certificate

First Month

Optionally retain lawyer
Protect unoccupied property
Cancel unneeded services
Notify Service Canada
Notify Canada Revenue Agency (CRA)
Request Trust Account Number (TAN)

First 3 Months

Inventory assets
Determine heirs
Start probate process if required/desired
Notify heirs
Establish family allowance if applicable
Forward mail
Notify life insurance companies
Notify RRSP and similar beneficiary accounts
Notify RCMP about firearms
Notify other agencies
Notify extended acquaintances
Open estate bank account
Publish notice of death

Whenever Possible

Inventory debts
Determine estate solvency
All debts resolved
Plan asset allocation

Calendar Year

Pay local property taxes
Submit final decedent income tax returns (T1)
Submit estate income tax forms (T3)

Finish

Obtain CRA tax clearance certificate
Compensate executor
Pass accounts for probate
Close estate bank account

That’s it, in a nutshell. Not so bad, right? As long as you have the skills and 570 hours or so to spare. If you don’t, and you’d like to explore having a professional execute the estate, reach out!

I want to do this myself

I want help doing this!

"*" indicates required fields