The executor/executrix (or personal representative) has to handle the estate. This can be quite a daunting task, as you now have to figure out how to carve some time to deal with that estate while already having a full time job, probably some kids' activities to tend to, and hobbies and other obligations.

And some of the processes that are outside of your control like probate can take months to be completed, which means that most estate usually take between 1 and 2 years to be completed.

Not only will have you to put your life on hold to handle someone else estate, but there are some serious consequences if you make the wrong decisions.

Depending on which province you live in, you could end up having to pay some hefty fines, or even jail time, if you didn't follow the rules appropriately. You could also get sued by beneficiaries or other creditors which will increase your stress and delay the completion of the whole process.




If you make a mistake that ends up costing thousands of dollars, like taking too long to put the house on the market, or missing a high point in the stock market, and you get sued by the beneficiaries, you could end up having to pay the beneficiaries the difference between the price you sold the asset at, and the price it could have sold at... with Executor Insurance, the insurance company will pay that amount to the beneficiaries instead of you having to use your own money.


Beneficiaries can be difficult to please, especially when you have a complex family situation with second or third marriage families coming together to collect from the estate. If some of the beneficiaries decide to sue you or the estate for their "fair" share, instead of having to take money out of the estate to defend yourself, the Executor Insurance will cover the lawyer fees.


Wills and other legal documents can be quite complex to review, and depending on your background or how busy your life already is, you might not have the time to properly review these documents or make the right decisions. Executor Insurance does provide you with access to representatives who will help you review the will.


As the executor, you should get paid for all the work you'll have to do for the 12 to 24 months following the death of the testator. It could even take longer than that. People usually agree that you should be compensated, but beneficiaries might fuss about the fact that you'd reduce the size of the estate by getting paid, and that income will be taxable to you. With Executor Insurance, you can get paid outside of the estate (at least up to a certain amount), and that portion of your compensation becomes tax free, which means you'll end up with 20% or up to 50% more in your pocket.


Between the lawyer, the funeral home, and potentially the accountant, you should receive lots of valuable information as to what your tasks are. The Executor Insurance provide a comprehensive tool kit to help you navigate all that information.


When someone dies and you're the executor, some expenses are going to fall on your lap right away. Executor Insurance can provide a source of funds that becomes available right away to miscellaneous expenses.

Why buy Executor Insurance

Because it will save your executor tons of headache, protect him or her from personal liability, and allow him or her to receive compensation for his or her work that will not be eroded by taxes.


Size of estate in Millions


Final Expense Coverage


Executor Compensation