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Your executor is key to your estate's settlement.

Administrating an estate can be an enormous amount of work. That's why it is so important that you think carefully before you name an executor (known as a "liquidator" in Quebec and an "estate trustee" in Ontario).

Your executor—or executors—will be responsible for dealing with all your legal and financial matters and ensuring that the provisions of your Will are carried out. Because of this time commitment and the financial and administrative duties involved, your executor(s) ideally should:

  • Be someone you trust completely—such as a spouse, adult child or close friend
  • Get along with your other executors (if applicable) and deal fairly with all members of your family
  • Be of an age that he or she will be capable to serve as your executor when needed
  • Live in the same province as you, preferably nearby (if possible)
  • Have the talent, time and interest to be your executor
  • Grant his or her permission before you name this person as executor in your Will

Because of all these considerations, many people, especially those with complex estates or blended family situations, appoint a professional executor, such as a trust company, rather than choosing a friend or relative. This is often a wise decision. (Another option is to have a relative or close friend serve as a second executor.)

Executors, whether individual or professional, are entitled to compensation for the significant amount of time and work involved. In your Will, you can include directions as to how your executor(s) should be compensated. (Your legal advisor should be able to provide guidance on any provincial standards or maximums.)


 

Will Planning Guide

Our Will Planning Guide is a straightforward tool you can use to get a head start before meeting with a legal advisor to write your Will.

Access the Guide

 

Please keep in mind that this information on Wills is in no way complete. It is simply an overview and does not deal with many of the legal issues involved in creating a Will. This content does not replace the need to contact your professional advisors, such as your lawyer, notary or other qualified advisor.