John M. Macaulay Professional Corporation
Being an estate trustee has many serious responsibilities. Some are almost inconsequential and others are quite monumental. Estate trustees need to identify the assets of the deceased for many reasons. It happens from time to time that the deceased rented one or more safety deposit boxes from a bank. If there is a box then.
Being an estate trustee has many serious responsibilities. Some are almost inconsequential and others are quite monumental. Estate trustees must, among other things, be accountable for their financial dealings with the estate. You should open an estate account with a bank, yours or with the deceased’s bank as soon as possible after the deceased’s death..
Being an estate trustee has many serious responsibilities. Some are almost inconsequential and others are quite monumental. Estate trustees must, among other things, be accountable for their financial dealings with the estate. This includes looking after the deceased’s tax obligations. Notify Canada Revenue Agency that the deceased has died and cancel any government pensions being.
Being an estate trustee has many serious responsibilities. Some are almost inconsequential and others are quite monumental. Typically if the deceased owned land it will be a large portion of the estate assets. It must be dealt with promptly. Get copies of real estate deeds, leases and mortgages. Look for reporting letters from the real.
Being an estate trustee has many serious responsibilities. Some are almost inconsequential and others are quite monumental. If the deceased died with real property or other items of value such as jewelry, stamp collections, etc. it is important to review insurance policies to be sure there is adequate insurance. There is a duty upon estate.