HOW CAN I PAY FUNERAL EXPENSES?

When a person dies, unless they have prepaid for their funeral, this expense will have to be paid by the Estate Trustee or Executor. Often there are no funds available to pay the funeral expenses as the deceased person’s money is in bank accounts that have been frozen because of the death.

Banks are permitted to release funds to pay funeral expenses and most Canadian Banks will readily provide the necessary funds for funeral expenses. If the bank will not, you may have to bring a ‘Motion’ to the Court to defer the payment of the funeral expenses until the Probate Document (called a ‘Certificate of Appointment of Estate Trustee’) has been issued by the court.

CONTACT US

Feel free to contact us at any point for assistance or advice with respect to Estate Planning, Estate Administration Services, Estate Litigation or Estate Law. We may be reached at 705.435.4339 or contact us via email.

HOW CAN I PAY PROBATE TAX?

When a probate application is filed with the Superior Court in Ontario, Estate Administration Tax (Probate Tax) has to be paid on the value of the estate. Often there are no funds available to pay the Probate Tax as the deceased person’s money is in bank accounts that have been frozen because of the death. [Read more...]

WHAT TO DO WHEN THERE ARE MORE DEBTS THAN ASSETS IN AN ESTATE

What does an executor do if the debts of the estate exceed the assets?

First of all, the executor (estate trustee) is not required to assume the executor role. Dealing with an insolvent estate can be complicated and time consuming. However, many estate trustees (executors) named in a Will seem reluctant to not tie up the loose ends of their loved one. [Read more...]

ESTATE ADMINISTRATION – WHAT TO DO WITH ALL OF THE DECEASED’S CARDS?

There are different requirements and recommendations relating to the various cards when someone dies – credit cards, health card, Social Insurance Card, etc. – once those cards are no longer needed.

To reduce the risk of identity theft (it does still occur after a person has died), cards should be physically destroyed. The Executor / Estate Trustee should also ensure the cards are returned to the issuer, so identity theft does not result in liability to the estate. Some issuers have forms that need to be submitted with the pieces of the card, although most do not. [Read more...]

MOST ONTARIO FUNERAL HOMES WILL ALLOW YOU TO PREPAY YOUR FUNERAL

Additionally you can pre-plan your funeral. For more information on this click HERE

The funeral prepayment does not go to the funeral home before your death. In Ontario, historically prepayments were held in GIC investments in trust for the customer. These days, prepaid funerals may be funded through a life insurance contract. [Read more...]

MOST ONTARIO FUNERAL HOMES WILL ALLOW YOU TO PRE-ARRANGE YOUR FUNERAL

You can also prepay your funeral but that is not necessary in order to pre-arrange your funeral. For more information click HERE.

Most people arranging funerals for loved ones have never done it before and the death of the loved one is generally unexpected. As a consequence, those arranging funerals for the recently deceased are ill equipped to make sensible decisions. [Read more...]