Executor of Wills in Canada (BC): What does an executor do?
I am a BC Notary, which means that a large part of my job involves helping clients with their estate planning. In my experience, many clients have a clear idea of who their primary beneficiaries will be but have a lot of questions surrounding the appointment of an executor. Namely, what does an executor of a Will do? And what factors should be considered when choosing an executor of estates in British Columbia, Canada? This article seeks to answer those questions generally by equipping the reader with relevant information as it pertains to BC (Canada) legislation. This article does not constitute legal advice.
Role of an Executor: What does an executor do?
Simply put, an executor is a person, appointed in a Will, to handle “wrapping up” the deceased’s affairs. An executor’s roles may vary depending on the complexity between various Wills and estates, but, commonly, administration of a Wills and estates in BC, Canada include the following:
- Disposition of remains and memorial service
- Safeguard assets & information
- Obtain death certificate
- Locate original Will
- Ensure assets are secured. (Lock house; ensure valuables are properly stored; gather personal information: ID documents, bank records and tax documents belonging to the deceased)
- Provide appropriate notice
- Mail forwarding
- Cancellations
- Contact government agencies
- Apply for CPP Death Benefit
- Notify beneficiaries
- Complete a schedule of the deceased’s assets
- Apply for the Grant of Probate in BC Supreme Court
- Advertise for creditors
- Pay estate debts
- File deceased’s income taxes and terminal return
- Administer & distribute the Estate (which may include managing trust funds over several years)
Choosing an Executor
Despite its critical role, there is no prerequisite accreditation imposed on individuals prior to their appointment or acceptance of the position as executor of estates in BC, Canada.
Before choosing an executor, it is important to understand the significant responsibilities, time commitment, potential liabilities and, sometimes, unexpected complexities that can come with the appointment. Even ‘simple’ Wills and estates can be big undertakings, so your executor should be someone equipped with the skills required to handle the above-listed tasks.
In British Columbia, Canada, an executor of a Will and estate must also be an adult (19+) and should exemplify some (if not all) of the following characteristics:
- Integrity and honesty;
- Ability to be impartial and fair;
- Financial literacy skills;
- Willingness to accept the role and dedicate the time required;
- Strong organization skills;
- Ability to communicate clearly and effectively;
- Good interpersonal and conflict resolution skills;
- Attention to detail;
- Ability to make decisions logically and reasonably and to showcase good judgment;
- Maturity and accountability.
- Canadian resident
Alternate Executors & Co-Executors of Wills and Estates
It may be beneficial to appoint co-executors (2+ persons) with complimentary skillsets to work together to complete the required estate administration; but, if you decide to name two executors together, consideration must be given to logistics and to how estate administration could proceed if the co-executors were to disagree.
Regardless of whether you appoint a single executor or co-executors, it is always prudent to also appoint an alternate executor of your Will and estate in case the first person named cannot accept or complete the role of executor of estates.
Executor of Wills in Canada (BC) Summary
- What does an executor of a Will do in Canada? Your executor is the person in control of your estate, so it’s important to choose someone equipped with the skills and qualities required to do the job well.
- Being an executor of Wills and estates is an onerous job with countless tasks and high standards. At a minimum, it typically takes one year to administer an estate, but sometimes it can quite literally require years of the executor’s time and work.
- Sometimes it can be beneficial to appoint co-executors to “share the load,” but consideration should be given to relationships, power dynamics and problem-solving (tie breaking) provisions to ensure that co-executors are equipped to work together to complete the estate administration.
Still have questions? Need assistance with creating a new Will or updating your old Will and estate plan? Give us a call. 604-576-3211