Thursday, November 8, 2012

Know exactly what you're getting into before you agree to act as executor

How I enjoy finding easy-to-read articles that are filled with common sense that I can share with my readers! I'm attaching an article by Gail Vaz-Oxlade that appears in www.moneysense.ca. In the article, Ms. Vaz-Oxlade suggests that you give serious thought to whether or not you accept an executor appointment in someone's will. Click here to read the article.

I totally agree that it's something you need to think carefully about before going ahead. If you start work as an executor on an estate, you have the job for life unless the court releases you. If you make mistakes, you can be held personally liable.

To those of you who are in over your heads and simply can't seem to deal with the estate properly because of time constraints, battling beneficiaries or legal issues, get help. See a lawyer or trust company and ask them to give you some guidance or even take over parts of the work. Did you know that you can walk into almost any major bank and ask them to put you in touch with their in-house trust company?

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