Executor Services

The Last Detail

Executor Services

Full Description


The Last Detail – Executor Services

My company, provides services for two important areas of your personal finances:
· Helping individuals get their financial affairs in order; and
· Coaching and/or administrative services to Executors.

GETTING YOUR AFFAIRS IN ORDER
If you have selected a family member or friend as your Power of Attorney, Financial Matters or Executor, the implications for them, if you do not have your affairs documented, are significant. The individual you selected may have a career and children in school and leaving them limited time to undertake these important responsibilities.

For many, your financial affairs are organized and managed day to day with minimal documentation. While this can work effectively, it leaves a void if you became incapacitated or have a fatal accident. Documenting your financial affairs can be both a daunting and emotional task.

The security and privacy laws in Canada have created an environment that safeguards our families and our privacy. It also increases the length of time to access assets as most financial institutions require a will and the Executor to be sanctioned in a “certificate of appointment of estate trustee with a will” (i.e. probate).

Gathering important financial documents may be as simple as waiting for the mail to arrive with notices of assets and obligations. However, it will also increase the length of time the assets must be safeguarded before they can be used for your care or liquidated. As digital financial records increase, access to the information becomes more complex.

My firm’s role is to create an inventory of the location of assets and liabilities along with the details required to access them by your Power of Attorney, Financial Matters or Executor.

COACHING & ADMINISTRATION SERVICES
The best-case scenario will require a minimum of eighteen (18) months to wrap up the affairs of an estate. For the full list of Executor responsibilities see the Resources page at www.executor-services.ca . The time requirements of these responsibilities will vary from month to month, with the most significant requirement occurring during the grieving period.

Among the many complexities of serving as the Executor of an estate, is undertaking the responsibilities correctly, and as importantly undertaking them in the correct sequence. The consequences of doing the right thing in the wrong order can be daunting.

The range of services available include coaching you through your responsibilities with a suggested timeline for each area of responsibility to performing administration services which may include final beneficiary reporting prior to the final distribution of the estate. The extent of services can be tailored to your situation.

THE LAST DETAIL
Many of the skills required by an Executor include safeguarding of assets until their disposal, financial management and reporting to the beneficiaries, preparation of tax returns, time management and prioritizing. Whether you have the skills but not the time or you have the time and not the skills we can support you. Our fee-for-service structure means that you can select only the services required to fulfill your responsibilities.

 

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Contact Person

Leslie Knighton

Phone Number

647-205-2738

Address:

1 Athlone Dr.

Location

Toronto

Province

ON

Postal Code

M8Y 2M5

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