If someone you know has passed away and you’ve been named the executor of their estate, you’re likely feeling a mix of emotions—grief, confusion, and anxiety about what comes next. The role of executor is a significant responsibility, and if it’s your first time in the position, it can feel overwhelming.
This blog will walk you through 6 key duties that executors in British Columbia must carry out. While every estate is different, and the specific steps may vary, this guide covers the essential responsibilities to help you move forward with clarity and confidence.
1. Locating and Validating the Will
One of the executor’s first duties is to locate the deceased’s will. This might require reviewing personal records, safety deposit boxes, or digital files. It’s crucial to ensure that the will you find is the final version and has not been superseded or revoked by a later document.
Once located, the will must be validated. This ensures that it’s legally enforceable. Validating the will typically requires the executor to apply for probate. A probate is a legal process in the BC Supreme Court where the court confirms the executor’s authority and the validity of the will. Probate also protects the executor by limiting their liability once they act on the estate’s behalf.
2. Identifying and Notifying Beneficiaries
Once the will is validated, the executor’s next responsibility is to identify and notify the beneficiaries. Beneficiaries are the individuals or organizations named in the will to receive assets from the estate. You’ll need to collect their full legal names, contact information, and any relevant identifying details.
Under the Wills Estates and Succession Act, the executor must also notify individuals who would have had a right to a share of the estate if the deceased had died intestate (i.e., without a will). Even if they are not named in the will, these people are entitled to receive formal notice.
You are typically required to send each person a Notice of Proposed Application in Relation to Estate Grant, along with a copy of the will and other supporting materials. This step ensures that the process remains transparent and allows interested parties to raise concerns, such as potential challenges to the will’s validity.
3. Ascertaining and Valuing Assets
One of the most time-consuming tasks for an executor involves ascertaining and valuing the deceased’s assets. The executor must compile a comprehensive inventory, which is then used to settle debts, pay taxes, and distribute the estate.
Common assets are:
- Real property (homes, land)
- Bank accounts and investments
- Pensions and RRSPs
- Business interests
- Personal belongings (vehicles, jewelry, art)
- Contents of any safety deposit boxes
To complete the inventory, you’ll need to contact financial institutions and insurance companies to obtain statements and determine exact values as of the date of death. And if the estate includes real property, you may need to arrange for appraisals or conduct title searches to confirm ownership.
4. Filing Tax Returns
Executors are responsible for filing the final income tax return for the deceased, as well as any required tax filings for the estate itself. This includes:
- Filing the final T1 return to the Canada Revenue Agency (CRA)
- Filing any T3 trust returns for the estate
The executor must gather all relevant tax slips, bank statements, and other financial documentation. If the estate is complex or includes business interests or foreign property, you may also need to consult with an accountant.
If taxes are not paid before distributing the estate, you could be held personally liable as the executor. Therefore, it may be advisable to wait for a clearance certificate from the CRA before finalizing the distribution of assets. This document confirms that the estate has no outstanding tax obligations.
5. Paying Debts and Liabilities
Another key responsibility that the executor assumes is to ensure that all valid debts and liabilities of the estate are paid. These may include:
- Funeral and burial expenses
- Medical bills
- Credit card balances
- Loans and lines of credit
- Utility or tax arrears
- Legal or accounting fees related to the estate
The executor should carefully review the deceased’s financial records and make any necessary inquiries with creditors. In some cases, the executor will place a notice to creditors in a local newspaper to protect the estate from future claims.
If the executor fails to properly deal with debts, they may be personally liable. It’s therefore vital that all obligations be settled before moving forward with asset distribution.
6. Selling Assets and Distributing the Estate
After debts and taxes have been paid, the executor can proceed to distribute the estate according to the instructions in the will.
This might mean transferring property or funds directly to beneficiaries. Or it might involve selling certain assets, such as a house or vehicle, and distributing the proceeds. Throughout the distribution process, the executor must act impartially and in good faith and keep accurate records of all transactions.
Before making any distributions, the executor should confirm that no will variation claims have been filed. In BC, certain individuals—such as spouses or children—can challenge the will under the Wills, Estates and Succession Act if they believe it does not adequately provide for them. Waiting for the statutory period (typically 210 days from the issuance of the estate grant) can help avoid the need to relitigate distributed funds if a claim is made.
When all distributions are complete, the executor provides a final accounting to the beneficiaries, which shows how the estate was managed and disbursed.
Understanding the Critical Role Executors Play in Estate Matters
Serving as an executor is a significant commitment. It can span several months and even years. The executor’s duties—locating and validating the will, identifying and notifying beneficiaries, ascertaining and valuing assets, filing tax returns, paying debts and liabilities, and selling assets and distributing the estate—are substantial. But understanding your role makes the work much more manageable. By approaching each step in an organized manner and seeking support from professionals as needed, you can be an effective executor while honouring your loved one’s wishes.
CM Lawyers: Providing Compassionate, Trusted Estate Services in Vernon & Salmon Arm
If you’ve been appointed as the executor of a will in BC and aren’t sure where to begin—or if you’re already in the middle of administering an estate and have questions—the experienced wills and estate lawyers at CM Lawyers are here to help. We provide practical guidance on all wills and estate matters, from estate planning to estate litigation.
With convenient locations in Vernon and Salmon Arm, CM Lawyers proudly serve clients throughout the surrounding areas, including Northern Okanagan and Shuswap. To schedule a confidential consultation, please contact us online or call our Vernon office at (250) 308-0338 or our Salmon Arm office at (250) 803-9171.