tag:blogger.com,1999:blog-436024129575354145.post6872471793471587262..comments2024-03-24T04:54:52.124-07:00Comments on Estate Law Canada: The executor doesn't keep the estate assets so why should he keep the debts?Lynne Butler, BA LLBhttp://www.blogger.com/profile/09790353197833765108noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-436024129575354145.post-65088019729013073062018-06-19T14:32:21.543-07:002018-06-19T14:32:21.543-07:00What does an executor need to do to clear an estat...What does an executor need to do to clear an estate when the estate is insolvent but there is still a CRA balance owing? The deceased did not have a sigificant estate, there was a joint tenancy property (that still had a mortgage) with some equity in the house, but no other real assets. Spouse could not afford to remain in the house, so had to sell and downsize to a more affordable house. OnlyB Lynnenoreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-80359479600402994812018-01-11T05:30:41.398-08:002018-01-11T05:30:41.398-08:00Very good point, and thanks for your clarification...Very good point, and thanks for your clarification. I did kind of skim over the point in my post.<br /><br />LynneLynne Butler, BA LLBhttps://www.blogger.com/profile/09790353197833765108noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-33636016050653741512018-01-09T07:30:36.658-08:002018-01-09T07:30:36.658-08:00As usual a very good explanation.
One item might...As usual a very good explanation. <br /><br />One item might require a little clarification or might even be another blog entry. You stated, "the executor has to either rank the creditors in order of priority or pay them all off in part."<br />This might be misunderstood by some executors, that they can choose which creditors get the money.<br />As you are aware, the priority expenses SK Plannerhttps://www.blogger.com/profile/04079418328912851546noreply@blogger.comtag:blogger.com,1999:blog-436024129575354145.post-17814140761962969302018-01-09T07:09:41.720-08:002018-01-09T07:09:41.720-08:00Hello Lynne,
I came to know about you through thi...Hello Lynne,<br /><br />I came to know about you through this website and decided to seek your advice on some very important points. But before that I am explaining my actual situation and giving you all the info you may need to suggest me properly.<br /><br />I live in GTA, Ontario. My husband is 70 yrs old and I am 47 yrs. I am his second wife. My husband’s first wife passed away some years Anonymousnoreply@blogger.com