I’ve been named an estate trustee in a will. What do I have to do?
As , your job is to manage and distribute the according to:
- the will of a person after they die, and
- the laws of Ontario.
It's an important job with a lot of responsibility.
The person who died might have asked if they could make you their estate trustee. Or, you might have found out after they died.
Just because you were named estate trustee in the will, it does not mean you have to do the job. Step 1 explains what to do if you decide you do not want the job.
Estate trustees are also called executors, estate representatives, personal representatives, or estate administrators.
What estate trustees do
As estate trustee, you must manage the estate or property of the person who died. The process is called administering or winding up the estate. It takes at least one or 2 years to manage a simple estate.
As part of your job, you must inform people, companies and government agencies that the person died. This is so that, for example, their Canada Pension Plan payments stop, and their driver's licence is cancelled.
You may need to apply for a Certificate of Appointment of Estate Trustee to confirm that the will is valid. This certificate confirms that you have the right to manage the estate. This process is usually called applying for .
You also need to:
- find and value the and of the estate
- pay any taxes and debts that the person owes
- file their final tax return and any other tax returns they have not filed
After you've done all this, your last job is to distribute the estate to the according to the will.
More than one estate trustee
If the will names more than one estate trustee, it might also say how decisions about the estate are made. If the will says nothing, then all estate trustees must agree on every decision.
Get legal help
An estates lawyer can explain your duties will be and the legal risk. They can also help you manage the estate. Fees for professional advice from a lawyer or accountant are usually paid from the estate if they're reasonable.