Executors can be held personally liable for the decisions they make in the course of estate administration. Although you will be acting in good faith, errors – or disagreements and the perception of errors – can result in the executor and the estate being sued by beneficiaries.
What do I do now?
The difficult situation that executors face could result in legal action from a beneficiary or a creditor. ERAssure Executor Liability Insurance was developed to protect both the executor and the estate.
ERAssure® Executor and Estate Liability Insurance is Canada's leading provider of inexpensive protection for the non-professional executor. It is purchased when the estate is opened and is typically paid as an estate expense.
Our Executor Planning Guide may be helpful in planning for the duties of the estate executor:
Get more details about your role as an executor and learn your next steps with our free Executor Guide.
Estate Risk Protection Plan President, CEO, Scot Dalton and estates lawyer Ian Hull discuss the potential benefit of having an insurance policy in place to protect against the liabilities arising out of the administration of an estate.