What is the difference between an Executor and an Administrator of an estate?
If an individual dies without a valid Will, someone must apply to the appropriate court for Letters of Administration, and the person appointed to control the estate is called an Administrator rather than an Executor. Duties are similar except Administrators must distribute the estate assets in accordance with Provincial legislation rather than the instructions of a Will. Q: What are my legal responsibilities as an Executor? Executors can be held personally liable in situations where they are found to have breached fiduciary duty or been negligent in the administration of the estate. A sobering thought. It is strongly recommended that Executors obtain adequate legal advice and utilize professional accountants for financial and tax matters. Q: How much work is involved? That depends entirely on the size and complexity of the estate. Our Executorships guide will give you a good idea of the duties and protocol involved in everything from locating the will to filing a T3 Estate Tax Return.
