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  • Three rules of executor liability for debts of an estate
    The executor is personally liable for all debts that the executor incurs after the death of the deceased For instance, if the executor hires movers, accountants, or lawyers to assist with the estate, then the executor is responsible for ensuring that those debts are paid
  • How does an executor pay estate expenses during the probate . . .
    The good news is that an executor can physically go into the bank with invoices, bills, or income tax returns to request bank drafts from the deceased’s bank account to pay this debt
  • Understanding Estate Expenses and Debts as Executors . . .
    Before beneficiaries receive their inheritance, estate expenses and debts must be settled An estate bank account should be opened to handle all estate receipts and expenditures Executors are not personally responsible for paying estate expenses and debts out of their own personal assets
  • Tips for executors when dealing with banks | Advisor. ca
    The bank generally will make the payment directly to the payee and not to the executor, said Monique Charlebois, an estate lawyer in private practice in Oakville, Ont and a former senior estates counsel with the Office of the Public Guardian and Trustee in Ontario
  • Access to bank account after death in Canada - SLC Lawyer
    Probate is crucial in determining the rightful execution of the deceased’s wishes, including the distribution of assets and payment of debts Without probate, there can be significant legal barriers to accessing the deceased’s bank accounts, especially if they were the sole account holder
  • How and when to set up an estate bank account - Blogger
    Most executors and administrators of estates will at some point set up a bank account for processing financial transactions on the estate Even when an executor or administrator has hired a lawyer to apply to the court for probate or administration, he usually still has to set up an account
  • Who Gets Paid First From an Estate in Canada? - Real Estate . . .
    The estate representative can expect to receive several bills after someone dies, including funeral expenses, taxes and any debts the deceased owed Usually, Public Trustee will have to pay these bills out of their pocket and then be reimbursed by the estate





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