Protect your Executor
Protect your Executor
Cover your executor's personal liability.
Pay your Executor
Pay your Executor
Compensation outside of the estate and TAX FREE.

PROTECT AND PAY YOUR EXECUTOR

LAWSUITS AGAINST THE ESTATE

As the executor, you're responsible for handling the estate and distributing the assets according to the will, while ensuring taxes and creditors are paid first. Things can easily get out of hand and if the beneficiaries, or some creditors, are not happy with the way you've handled things, they could easily sue you. Getting proper protection will not only reduce your stress level as you'll get legal help, but it will also prevent the estate assets from being liquidated to cover legal fees. In some jurisdictions (like Ontario), there is even the risk of jail time if the job is not done properly. Don't let this happen!

PERSONAL LIABILITY

As the executor, there are several scenarios where you might end up having to pay beneficiaries or the CRA/creditors with your own money. It could be because you've distributed the assets to the beneficiaries and ran short on what was due in taxes or to the creditors, or maybe it simply took too long to sell a house and the beneficiaries are coming after you for the loss of income they could have generated... the list goes one. It's hard enough to handle the estate, get proper insurance so you don't have to worry about being out of pocket on top of all the other headaches.

GET PAID TAX FREE

As the executor, you're entitled to (and should) get paid for all the hard work. Dealing with an estate is extremely time consuming and make take YEARS to finalize. Usually, compensation to the executor is paid from the estate assets, and even though the compensation is well earned, beneficiaries may not agree since the money is taken from their inheritance. In addition, the compensation must be declared to the CRA and you will have to pay taxes on it. By purchasing the right type of insurance, your compensation will not pe paid from the estate assets AND part or all of it will be TAX FREE.

Our Track Record?

Since January 2016, we've been organizing executor workshops that provide expert advice to testators and executors by bring together professionals from different disciplines that are connected to the estate.

16

Executor Workshops

468

Participants who attended

82

Hours of Learning

RELY ON PROFESSIONALS TO MAKE YOUR LIFE EASIER AND PROTECT YOUR LIABILITY

The diagram below shows you the most common professionals that could be involved with an estate. As the executor, it is your role and duty to ensure that all the proper experts are brought in to address potential challenges or issues. Sometimes executors believe that they should do it all on their own, either because they don’t want to spend money from the estate to avoid conflicts with beneficiaries, or because they think they don’t need the help. There will be enough for the executor to do, even if all these professionals were involved in dealing with the affairs of the deceased.

Not only hiring the right professional will save you and the estate time and money, it will also protect you and your personal liability should you have some mishap or issues with part of the estate affairs. It is a lot easier to defend yourself in front of the judge when you hired a lawyer, an accountant, or an financial planner, if one of these have recommended an action that ended up back-firing. The judge will then see that you did your due diligence, and that the professional you hired made a mistake, and blame them for it, instead of you personally.

Having someone who is dealing with estates or planning for estates on a daily basis will also help you save some much time and headaches that it is easy to justify in front of the beneficiaries. Remember, if the process takes you twice as long because you don’t know what you’re doing, or make mistakes that could have been avoided, neither will you save the estate money, nor will the beneficiaries be happy for the wait…

WHAT ATTENDEES HAVE TO SAY ABOUT OUR WORKSHOPS

Every person who attended one of our events has been impressed by the caliber of the speakers that were brought together

I've attended several seminars, and so far, everyone I have brought with loves what you do. It really gets them thinking. I typically do a follow up with them after to see what they have put into place. It is actually quite fun!

Barbilee Hemmings

B.A.,B.Ed., Owner of BestBreakfastEver.com

I attended an information seminar for Executors but it included so much more. The seminar included many speakers each a professional in their field. Each provided vast information and I found it very educational and realized we all need to prepare for the unexpected. I will be attending more seminars to obtain more education and knowledge to better prepare myself and my family.

Julie Chartrand