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Difference between revisions of "Choosing an Executor"
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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: | 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. | * '''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 | * '''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. | * '''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. | * '''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. | ||