Estate administration: do I have to advertise for creditors?
written by Patrick Hartford
If you’re an estate trustee (either an executor or an administrator), you should be advertising for creditors to protect yourself from personal liability. But with the emergence of advertising for creditors online, this doesn’t have to be complicated or expensive.
Generally speaking, the deceased’s debts must be paid before the assets of the estate are distributed to the beneficiaries. One of the jobs of an estate trustee is to identify and pay these debts. This isn’t always easy, ...Continue Reading ?
Why do you need a Will?
Courtesy of David Mills from Mills and Mills LLP.
You believe that you should decide how your hard-earned estate will be divided, not the government. Under Ontario’s Succession Law Reform Act, the estate of a person who dies without a Will is distributed according to a specific set of rules. These are often inconsistent with what an individual would choose for him- or herself.Continue Reading ?
You have young children. In a Will you can provide instructions as to who should ...