Author Archives: ERAssure

What are the most common Estate Litigation Disputes?

Estate litigation disputes are unfortunately quite common in Canada. They occur when someone takes issue with the way estate administration tasks are being handled by the executor, such as the division of personal assets. We anticipate that estate disputes will only become more frequent as our population in Canada continues to age. By the year…

What is Executor Insurance and how does it work?

Being the Executor of a Will is a very important job, and one that most Canadians will have to take on at some point in their lives (whether they like it or not.) As the Executor, you may know that you’re responsible for closing the estate and tasks like arranging the funeral and selling the…

What are joint executors?

An executor in Canada takes care of closing someone’s estate when they pass away, but what happens when there is more than one executor named in the will? This is called having joint executors,and it usually happens when a parent chooses more than one child to take on the role. Why would you have more…

What do I need to know about Executor Liability Insurance?

Many people know what an executor is, but very few actually realize there’s a laundry list of estate administration tasks that come with the role. Being an Executor is the miserablest, rottenest, nastiest job that you never applied for.” Jim Kibble, Founder of Ontario Estate Consulting Solutions Inc.

Toronto Executor & Trustee Pay $1 Million in 7-Year Estate Battle

“Horrific.” “Nothing short of a nightmare.” This is how both parties of a recent 7-year long estate battle described their experience to The Toronto Star. Terry Dooley, a semi-retired accountant from Toronto and the executor of the estate, was defending himself alongside the estate trustee against claims made by a relative of the deceased. The…

How to Close Gaps in Your Estate Plan Using this Custom Checklist

Are you 100% certain you’ve thought of everything you need to cover in your estate plan? Children, real estate, pets, financial assets, business succession plans, and charitable donations are the tip of the ice berg. You need to close gaps in your estate plan now before it becomes a huge financial and legal problem for…

Don’t Forget to Add a Beneficiary To Your RSP or RIF

It’s a big mistake that you may not even know you’ve made – you’ve forgotten to add a beneficiary to your RSP or RIF. When you’re setting up an RSP (or RIF) OR transferring funds from an RSP to an RIF, you need to triple check the paperwork and make sure your beneficiary is properly…

What are my Executor Duties in Canada?

So you’ve been made an Executor, but what does that actually mean? Your Executor duties are quite extensive (it takes about two years to close an estate in Canada) but not to worry, we have a free Executor Guide that can help you every step of the way. Want a sneak peek? You can see…