Introduction to Being an Executor

Being named an executor for a loved one’s estate is both an honour and a serious responsibility. An executor (called an estate trustee in Ontario, or a liquidator in Quebec) is the person tasked with administering the deceased’s estate in accordance with their Will and the law. In practice, this means you’ll be responsible for gathering the person’s assets, paying off their debts and taxes, and distributing what remains to the beneficiaries as specified. It’s a role that can be complex and time-consuming, often taking many months or even years to complete for larger or more complex estates.

Roles and Responsibilities

At a high level, an executor’s duties include:

• arranging the funeral;
• safeguarding the deceased’s property;
• probating the will (if required);
• managing and liquidating assets;
• paying liabilities;
• filing tax returns; and
• ultimately distributing the estate to the beneficiaries.

Throughout, the executor acts as a fiduciary – meaning you must do a good job and act in the best interest of the estate and the beneficiaries, not yourself. You have a serious legal obligation to be impartial and prudent. For example, you shouldn’t favour one beneficiary over another or make personal use of estate assets. You must carry out the deceased’s instructions as set out in the will competently and correctly, as long as they are legally valid.

Challenges of the Job

While being an executor is sometimes described as a final act of love or respect, it can quickly feel like a burden. You’ll be managing paperwork, legal processes, and possibly family disagreements – all while you may be grieving the loss yourself. Executors can be held personally liable for mistakes (for instance, if you distribute money to beneficiaries before settling all debts and taxes, you could be on the hook personally for any shortfall). There are also strict timelines for certain tasks, and complex estates require expertise in law, taxation, and/or investment management. It’s important to approach the role with seriousness and diligence. However, remember that help is available – you can hire professionals (lawyers, accountants, etc.) to assist, and the estate will generally cover those reasonable costs. We’ll discuss working with professionals in a later section.

Legal Authority and Term

An executor’s authority comes from the will itself, and that authority is confirmed by the court during probate, if required (except in Quebec’s unique system). An executor’s authority continues until the estate is fully administered. You are not obligated to serve as executor just because you were named; you have the option to renounce (decline) the appointment if you have not already intermeddled in the estate. If you do accept this serious responsibility, understand that you must act honestly, in good faith, and with due care. Maintaining organized records and open communication will go a long way in preventing problems. Many executors find it helpful to keep a journal or spreadsheet of every step taken from day one – dates, actions, decisions, and expenses – to keep track of the myriad details and to provide a clear account to beneficiaries later.

Estate Administration at a Glance: Timeline

This is a very general timeline; actual timing can vary widely based on when during the calendar year the person passed away, the estate’s complexity and provincial processes.

Each section below will delve into these phases in detail, with handy checklists, tables, and tips to help you navigate your executor duties effectively.