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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 23:47, 9 April 2017
, 23:47, 9 April 2017→How does the distribution work?
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Estate assets are transferred first to the executor, and then to the beneficiary. These steps are often done at the same time. The [https://ltsa.ca Land Title Office] has the forms for transferring real estate. [http://www.icbc.com/vehicle-registration/sell-vehicle Autoplan] handles transfers of motor vehicles. | Estate assets are transferred first to the executor, and then to the beneficiary. These steps are often done at the same time. The [https://ltsa.ca Land Title Office] has the forms for transferring real estate. [http://www.icbc.com/vehicle-registration/sell-vehicle Autoplan] handles transfers of motor vehicles. | ||
If any cash and belongings remain after you distribute the specific gifts, divide what remains, known as the '''residue''', as instructed by the will. If the will does not have a residue clause, you must distribute the remainder as if there was no will. This is called | If any cash and belongings remain after you distribute the specific gifts, divide what remains, known as the '''residue''', as instructed by the will. If the will does not have a residue clause, you must distribute the remainder as if there was no will. This is called “intestacy”. You will need to get legal advice if this situation occurs. | ||
{{Being an Executor Navbox}} | {{Being an Executor Navbox}} | ||