Hire an experienced professional executor
Hire a professional executor
A Burden Lifted
Hire an experienced estates lawyer as your professional executor and put your mind at ease.
Being an executor can be overwhelming. So many things to do, forms to sign, and everyone waiting on you. It's a part-time job for 2 years. And your personal assets are at stake if you screw up.
Ask me how you can appoint me as your professional executor, sit back and let me handle the headache.
"I'll never do that again!"
Being an executor is an honour, but also a great burden. People don't appreciate what they are asking of friends and family when they name them as an executor in their will.
I've never had an executor say "that was less work than expected."
It's usually: "I'm never doing that again!"
An estate is never as simple as it seems. Even the simplest estates can be time consuming. Hire a professional executor like me instead!
Being an executor is an onerous job, with over a hundred tasks, many with very specific deadlines. Assets need to be maximized and costs minimized. A wrong turn can delay wrapping up the estate for months.
With a profesional executor you can relieve yourself and your friends and family of the burden and take the time to mourn.
And It doesn't matter if the will didn't appoint a professional executor - the beneficiaries can nominate a third party executor.
And it costs the same or less! A non-professional, family member executor is entitled to be paid roughly 5% of the estate value. My fees as a professional executor are less (usually between 4-5% with minimums/maximums) and you get someone who knows what they're doing.
Plus I'm professionally insured if things go wrong!
Appointed executor in a Will?
It's OK to say no
Most people don't realize that you DO NOT have to accept being an executor, even if you agreed years ago when the Will was signed. All you have to do before starting anything is sign a single piece of paper and renounce your right to be executor and walk away. It's as easy as that.
I've been an executor many times - it's not an honour, it's a burden. I get paid professionally to be an executor and i can tell you that it is still an unpleasant job. It's 2 years of your life you won't get back.
Objectivity and time availability are some of the key characteristics to look for when selecting an executor.
If you renounce and there is no back-up named or if they also renounce, the beneficiaries can appoint a professional executor like to me to do the job.
I keep the beneficiaries constantly updated and work tirelessly to maximize the value of the estate with a full accounting along the way.
Everything I do as a professional executor is in accordance with the law and the letter of the Will (if there is one). You can live your life and simply collect a cheque.
Hire a professional executor
If your family member has passed away without a Will and you live out of province or simply too busy to take on the chore of wrapping up their estate, I can help.
With the consent of the beneficiaries you can nominate me to apply for probate (a Certificate of Appointment of Estate Trustee Without a Will).
I will take care of all the legwork, decisions, taxes, and distribute the estate assets in accordance with the law.
If you live outside Ontario, you CANNOT be the administrator of an estate where there is no Will so either a family member here will have to do it or you will need to find a professional executor like me to take on the job.
Professional executor expertise
I've wrapped up countless estates over the years and bring "boots on the ground" firsthand experience. And I have a deep network of contacts and professionals to draw on to administer an estate in a professional, timely and productive manner.
It's vital to keep beneficiaries informed along the way so they know what to expect and when. A well managed estate should have no surprises! I'm always available by phone or email.
We agree on the fees I will charge the estate before beginning. No surprises at the end. I usually charge 4-5% subject to minimums/maximum dependant on the complexity and assets of the estate.
Don't believe me? Take it from Jim, an Albertan whose sister passed away in Toronto without a Will and asked me to administer the estate as their professional executor:
"Dear Blake: I just wanted to take this time to thank you for your exceptional service and personal care and attention to my sister's estate resolution. You are very good at what you do! We also felt you were "treating us exactly the way you would want to be treated." You truly have been a blessing to my wife and I at what was a difficult time." - Jim
Professional Executor FAQ
I'm not the executor, but I want to hire you. Can I do that?
No. All the executors named in the Will must have renounced (or died) before the beneficiaries can nominate a replacement.
Do I name you as executor in my Will?
Yes, but it depends on the circumstances. Please ask me before doing so.
There's no Will. Can you take over and run the estate?
Yes, but the beneficiaries will have to formally nominate me and consent to my appointment. I don't accept every estate that I get asked about - the circumstances have to be a good fit.
How much does an executor get paid?
The general rule of thumb is executors are entitled to be paid roughly 5% of the estate value for their trouble, care and skill. It's a lot of work and risk - they deserve it (and they have to be pay income tax on it)! This is for anyone, professional or not.
I may charge a little less as I am experienced and know what I am doing, but it will depend on the circumstances. We will always agree on it in advance and it may be subject to a minimum and could be capped at a maximum. Unfortunately there is HST on top of my fees.
Remember that these fees are paid from the estate, not your own pocket.
What if the person named as executor has died?
If there is a back-up executor named, then they take over. If they do not want to and the beneficiaries want to hire me to be executor, I'm happy to help.
What if I don't want to be executor?
You can formally renounce and wash your hands of it. Just don't start doing the job and then decide you don't want to do it. Once you've started, it's hard to get out of it.
Many times it is better to have a professional act as executor despite what the will says. The named executor can renounce and the beneficiaries can consent to my appointment.
I'm named as executor, but live out-of-town. Is that a problem?
Legally no, practically yes.
If you live anywhere in Canada or another Commonwealth country you can still apply for probate no problem. But if you live in the US, it might be a good idea to renounce and appoint a local executor (like a professional). Non-Commonwealth executors have to post a bond with the court (~ 2x the value of the estate) as part of probate.
Aside from that, being an executor involves a lot of legwork and is much easier if you live in proximity to where the deceased resided. Think long and hard about travel and your own time. It's usually worth it to find someone else to do the job. Life is too short.
Are there circumstances where you won't be the executor?
Yes. I will likely not agree to act as executor if there is family conflict, a risk of litigation, or a long-term trust required. Accepting being named as executor is a big responsibility, so the circumstances must be just right for me to agree to do it.
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