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Difference between revisions of "Choosing an Executor"

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* '''Explain your plans''' to family members, the beneficiaries, or anyone who may be legally entitled to a share of the estate. Talking with them now may prevent problems later.  
* '''Explain your plans''' to family members, the beneficiaries, or anyone who may be legally entitled to a share of the estate. Talking with them now may prevent problems later.  
* '''Review your will''' and your choice of executor every few years, and consider updating it when your circumstances change.
* '''Review your will''' and your choice of executor every few years, and consider updating it when your circumstances change.
== Can more than one person act as executor? ==
Yes, you can appoint two or more people to act as your executors. It is important to be aware that if more than one executor is named, the co-executors must act jointly. Neither of them is the "lead" executor or "main" executor. They’ll have to agree on many things, from the selling price of the house to who is going to get the family photo albums.
If one executor dies, the other one can act alone.
Sometimes people choose three executors so that if there are disagreements, the executors can vote and the majority will decide. However, you need to say in the will that this is what you want; otherwise all decisions must be unanimous. You also must say that the executor who doesn’t agree with the other two will still go along with the decision and sign any necessary documents. This is called a '''majority rule clause'''.
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| text = If you appoint more than one executor, consider if they will be able to work together. You should discuss your wishes with both of them. It’s best if you can do this with them together.
}}
== How can you make the job easier for your executor? ==
First, ask the person you have in mind if he or she is willing to be your executor. Once they have agreed, you can make the job easier for them if you:
* '''Discuss your wishes''' with the executor, including burial and cremation.
* '''Register your will''', and tell your executor where the original will is kept. It is a good idea to keep it somewhere where your executor can access it.
* '''Keep an up-to-date, detailed record''' of all that you own and all that you owe. For example, record your bank accounts, RRSPs or RRIFs, insurance policies, real estate, and pension benefits. Note any items which are owned in joint tenancy or which name a specific beneficiary. These are dealt with outside the estate, so the executor does not have to manage them.
* '''Explain your plans''' to family members, the beneficiaries, or anyone who may be entitled to a share of the estate. Talking with them now will prevent problems later.
* '''Review your will''' and your choice of executor every few years or when your circumstances change.
* '''Update the will''' if there are any changes.
It is always a good idea to make a new will if you move between provinces. If someone dies in British Columbia but had a valid will in another province, the executor may be able act on the will. But the process may be more complicated.


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