Stephen A Holmes

The executor’s responsibility is to carry out the wishes of the deceased. Devise of Personal Property: The devise of personal property including all property other than real estate. Devise of Estate: A devise of estate includes all property which is not personal property such as real property, cash, stocks and/or GICs and bonds. Appointing Guardians: A guardian is one or more persons who care for your child/children in the case you are no longer able. Guardians and trustee/executors should be separate to avoid a conflict of interest. Buried or Cremated: You may determine whether you want to be buried or cremated. Powers of Attorney: There are now two powers of attorney in the Province of Ontario, one for property and one for personal care. Probating A Will: Probate is essentially the recognition by the court of the validity of the will and the appointment of the person named in the will as the executor. Probate Fees: The probate fee is paid to the provincial government when an executor or administrator of an estate of a deceased person seeks to submit a will to probate or obtain approval to administer an estate where there is no will or no executor named in the will. Inter Vivos Trusts: A trust is a method of holding property where the legal and beneficial ownership of the property are separate. A trustee owns the legal title to the trust property, but the beneficiary receives all benefits. Joint Accounts with Right of Survivorship: Property such as a home registered between joint tenants or a bank account that is jointly held will pass outside the estate of the deceased joint owner and vest in the surviving joint owner.