I Am the Executor or Administrator of an Estate: Difference between revisions
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I Am the Executor or Administrator of an Estate (view source)
Revision as of 20:39, 1 April 2014
, 1 April 2014→What happens next
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Once a grant of probate or administration has been issued by the Supreme Court of BC, the executor or administrator will have full authority to deal with the estate assets. He or she must pay the debts of the person who died. He or she must also file tax returns in respect of that person, and apply for a clearance certificate from Canada Revenue Agency. He or she then distributes the estate to the beneficiaries. | Once a grant of probate or administration has been issued by the Supreme Court of BC, the executor or administrator will have full authority to deal with the estate assets. He or she must pay the debts of the person who died. He or she must also file tax returns in respect of that person, and apply for a clearance certificate from Canada Revenue Agency. He or she then distributes the estate to the beneficiaries. | ||
There is a waiting period before the executor or administrator can distribute the estate. He or she must not distribute the estate until 210 days following the date of issue of the grant, unless all beneficiaries and intestate successors consent to earlier distribution. | There is a waiting period before the executor or administrator can distribute the estate. He or she must not distribute the estate until 210 days following the date of issue of the grant, unless all beneficiaries and intestate successors consent to earlier distribution or there is a court order approving earlier distribution. | ||
== Where to get help == | == Where to get help == | ||