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Difference between revisions of "Ten Steps to Being an Executor"
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Ten Steps to Being an Executor (view source)
Revision as of 21:26, 12 February 2016
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=== What can I do to protect myself from liability? === | === What can I do to protect myself from liability? === | ||
As the executor, you could be personally liable if you don’t pay the deceased’s debts, including any taxes owed, before you distribute the estate. | As the executor, you could be personally liable if you don’t pay the deceased’s debts, including any taxes owed, before you distribute the estate. | ||
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== Step 7: If Necessary, Apply for Probate == | == Step 7: If Necessary, Apply for Probate == | ||
[[File:beinganexecutor-contents4.png|thumb|275px|right| link=| <span style="font-size:50%;">Image via www.shutterstock.com</span>]] | |||
As the executor, you may need to '''probate''' the will. In the probate process, you submit special forms and the will to court; see below for details. If everything is in order, the court issues a grant of probate. This document allows financial institutions and other organizations such as the Land Title Office to rely on the will as being the last will made by the will-maker. | As the executor, you may need to '''probate''' the will. In the probate process, you submit special forms and the will to court; see below for details. If everything is in order, the court issues a grant of probate. This document allows financial institutions and other organizations such as the Land Title Office to rely on the will as being the last will made by the will-maker. | ||