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The Executor's Handbook, 6th Edition

Executors, administrators and liquidators will find this updated guide to be an invaluable help when navigating the challenging road of estate administration.
Langue De Publication: English
240,00 $

Softcover | 452 pages

En stock
Publié: 10 octobre 2019
ISBN/ISSN: 9780433500728

Détails des produits

From making funeral arrangements, to the final distribution of the estate, the administration of an estate can be a complex, multi-faceted and often emotional task. The Executor’s Handbook is a comprehensive and practical resource designed to assist the executor, administrator or liquidator with this undertaking, and provides the information and direction required to administer an estate in Canada, from start to finish.

The definitive guide
Now in its sixth edition, The Executor’s Handbook offers a detailed look at the responsibilities and liabilities associated with administering an estate, making it a valuable publication for anyone who finds themselves in that situation. The topics covered include:

  • Organ donations and funeral arrangements
  • Letters probate and letters of administration
  • Inventory of assets and dealing with the debts of the estate
  • Income taxation
  • Estate accounting
  • Testamentary trusts
  • Distribution of the estate
  • Compensation for the personal representatives
  • Estates under the Indian Act

Updated to reflect current legislation and best practices, The Executor’s Handbook, 6th Edition includes new information regarding:

  • Digital assets and accounts
  • Charitable donations
  • Taxation at death
  • U.S. estate tax
  • Intestate succession
  • Nova Scotia’s presumed consent organ donation legislation
  • Matrimonial real property rights for surviving spouses and common law partners on reserves
  • Ontario’s 2019 budget proposals for planned changes to probate taxes and estate information return deadlines

This practical and easy-to-follow guide will prove indispensable for lawyers, non-legally trained executors and estate administrators, and wealth management professionals.


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Table des matières

Chapter 1: Overview of estate administration
Renouncing appointment as executor
Receiving professional assistance
Organizing the paperwork
Simplified overview of estate administration where a will exists
Simplified overview of estate administration where no will exists
Estate administration checklists
Important limitation periods and deadlines
Guardianship of children
The law is constantly evolving

Chapter 2 : Organ donations and funeral arrangements
Organ or body donations
Funeral arrangements

Chapter 3: Letters probate and letters of administration
What is probate?
Letters probate
Letters of administration
Estate information return for estate trustees in Ontario

Chapter 4: Inventory of assets
Assets that pass outside the estate
Real estate
Bank accounts and safety deposit boxes
Life insurance
Canada Savings Bonds
Other marketable securities including shares, bonds and mutual funds
Employee benefits
Business interests
Registered plans and pension plans
Personal property
Digital assets and accounts
Canada and Quebec Pension Plan benefits
Workers’ Compensation survivor benefits
Travel reward programs and other bonus points

Chapter 5: Debts of the estate
Ascertaining the debts
Paying the debts of the estate
Insolvent estates
Claims of spouses and dependants

Chapter 6: Income taxation
Liability of the personal representative
Income tax returns checklist
Returns for the deceased
Income and capital gains
Deemed disposition of property at death
Other income in the terminal year
Special rules for RRSPs, RRIFs, RPPs, RDSPs, PRPPs and TFSAs
Tax credits
The estate as taxpayer
Clearance certificate
United States estate taxes

Chapter 7 : Testamentary trusts
Trustee’s duties
Spousal/Common-law partner trusts and trusts for children
Trusts and taxation
Deemed disposition – 21-year rule

Chapter 8: Distribution of the estate
Distribution where there is a will
Distribution where there is no will (intestacy)

Chapter 9 : Estate accounting
The passing of accounts
Sample estate accounts

Chapter 10: Personal representative’s compensation
Approaches to determining compensation
Care and management fees
Special fees
Pre-taking compensation
Taxation of personal representative’s fees
Deductions from compensation to pay third parties
Division of compensation
Costs and expenses

Chapter 11: Estates under the Indian Act
Ten-month restriction on distribution of estate
Reserve land
Matrimonial real property on reserves
Additional information

Appendix A: Estate assets and debts
Appendix B: Income tax forms and guides
Appendix C: Websites and organizational tools