As the appointed Executor or Co-Executor of your member’s will, Concentra completes the administration of their estate. Assets and liabilities are located; debts, expenses and claims satisfied; preparation and filing of required tax returns is completed, and assets are distributed to the correct beneficiaries.
Your member should consider the advantages of a professional executor if:
Their estate is extensive, complex and/or has many beneficiaries.
Their spouse and/or family do not have the time, experience or expertise to be an executor.
Their intended executor lives outside your province of residence.
They have a physically or mentally challenged dependent.
They have a spendthrift child.
Their children are minors and a trustee will be required to administer long-term trusts.
They have children from a previous relationship.
Their adult children do not get along.
They are concerned that having a family member administer their estate may cause rifts in the family.
They plan to include perpetual charitable trusts or multi-generational trusts that will require a continuous and permanent trustee.
They want to limit any personal liability for family members.
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