Being named a Trustee is a heavy responsibility.<\/p>\n\n\n\n
But professional help is available.<\/p>\n\n\n\n
If you ever find yourself named to administer someone’s estate, you could be faced with a bewildering range of difficulties and expensive decisions.<\/p>\n\n\n\n
Traditionally, these vary from the funeral arrangements to disposing of property, settlement of Federal and Provincial Income Tax, investments, RRSP’s<\/a>, RRIF’s<\/a>, If the deceased had a business or professional practice, the process becomes far more complicated, as you will have to deal with others with vested interests. You can find yourself swamped in a web of legal and financial\u2026the list can seem endless. And the time involved.<\/p>\n\n\n\n Traditionally, The Fees Can Be Exorbitant<\/strong><\/p>\n\n\n\n The main fees – executor, probate, legal and accounting – vary with the size and complexity of the estate. In general, the larger the estate, the higher the fees.<\/p>\n\n\n\n Example: Some provincial laws frequently allows fees up to 5% of the probate value of the estate. If this amounts to $250,000 (a relatively modest estate today), probate fees alone can be as high as $12,500!<\/p>\n","protected":false},"excerpt":{"rendered":" Being named a Trustee is a heavy responsibility. But professional help is available. If you ever find yourself named to[…]<\/p>\n","protected":false},"author":1,"featured_media":1769,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[362,360,365,359,363,364,361,36,134],"class_list":["post-1768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retirement","tag-administer","tag-disposing","tag-estate","tag-estate-settlement","tag-executor","tag-probate","tag-property","tag-rrif","tag-rrsp"],"_links":{"self":[{"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/posts\/1768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/comments?post=1768"}],"version-history":[{"count":1,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/posts\/1768\/revisions"}],"predecessor-version":[{"id":1770,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/posts\/1768\/revisions\/1770"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/media\/1769"}],"wp:attachment":[{"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/media?parent=1768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/categories?post=1768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/tags?post=1768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
personal belongings\u2026everything that has to be disposed of, according to the deceased’s Will. If the deceased has not left an itemized list, just locating key documents can pose a real problem.<\/p>\n\n\n\n