2. Learn who deals with your estate
Question & Answer
What is a will and what happens if I die without making one?The property you own when you die is called your .
The person who deals with your property after you die is called an .
Estate trustees are sometimes called executors, estate representatives, personal representatives, estate administrators, or liquidators.
Being an estate trustee is a big responsibility that can sometimes last for years.
If you make a will, you should choose someone you trust to be your estate trustee. Choose someone who's also organized and responsible.
You can choose a friend or family member to be your estate trustee, or a professional like a lawyer or a trust company.
An estate trustee must follow a process called “administering” or “winding up” the estate. This process can include:
- selling your property
- paying that you owe
- filing your final income tax return
- distributing the property in your estate according to your will or the
An estate trustee also arranges your funeral and burial or cremation.
If you die without a will or do not name an estate trustee in your will, someone may need to apply to the court to become your estate trustee.
There are rules that say who can apply to be an estate trustee. For example, the person who applies:
- must live in Ontario;
- your or partner usually has the right to apply first, followed by your closest relative.
Asking the court to name an estate trustee can be cost a lot of money and take a lot of time.
You can avoid this by naming someone to be your estate trustee in your will.
