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.
Canadians who plan for the day when they must pass on their estates face a quiet fear that many of us don’t acknowledge for most of our lives. It takes courage to follow the necessary steps to ensure that their legacies survive as intended. That leaves us asking the question should Executors have unlimited liability…
Most executors don’t think of themselves holding legal liability as a fiduciary, but there are risks that come along with the convenience of modern technology. The cybersecurity risk for executors is very real and it presents a large source of potential problems that executors and advisors need to consider.
