How long can executor

Our lawyers have offices based in Wolverhampton and Cradley Heath and provide assistance to clients across the West Midlands including: Stourbridge, Kidderminster, Birmingham, Dudley and Walsall. If you would like to discuss a probate matter, please contact us on to speak to one of our Private Client lawyers. Search Search. Make a payment via our secure payment page. As of January 1, , the executor of the Will must file an Estate Information Return with the Ontario government within days after their estate certificate has been issued as part of the probate process.

But you may not need to file. Most people choose a close loved one whom they trust to be the executor of their Will. Oftentimes they are also a direct descendent of the person who died, and they stand to receive a large portion of the estate. You have some time to complete your legal duties.

What happens beyond the first year? Want a full checklist of executor duties? First, what is probate? But how do you know if you need to apply for probate?

How long after probate can funds be distributed in Ontario? Can you sell a property before probate is granted in Ontario? What is the EAT in Ontario? What is part of the estate administration tax in Ontario? Bank accounts that are not in joint ownership Vehicles Other personal property like jewels, coins, furniture, etc.

The first thing an Executor must do is work out the value of the estate. This can only be done once everything the deceased owned and owed has been identified and valued — including bank accounts, pensions, shares, personal belongings and assets, as well as outstanding debts. Once this has been calculated, the overall estate value can be reached.

Working out the amount of inheritance tax owed, if liable, is complex given the many factors involved, such as nil-rate bands, lifetime gifts, and tax exemptions. Once any inheritance tax the estate is liable for is paid, the Executor needs to apply for a Grant of Probate. This document gives the Executor the legal power to deal with the estate. The Executor can apply for a Grant of Probate whenever he or she likes — there is no set deadline in England and Wales.

The Executor must locate all the assets and collect them in, once the Grant of Probate has been given.