What is an executor's step-by-step checklist after a death in Ontario?
Your checklist as executor follows the duties Ontario.ca describes: find the will, wind up the deceased's affairs, pay taxes, bills and other debts, and distribute what remains to those entitled. A person named as estate trustee does not have to act.
In the first days, locate the will, order several copies of the death certificate, secure the property and keep careful records of everything, since estate trustees must keep accurate records of the assets and transactions. Once you receive a certificate of appointment, you must file an Estate Information Return with the value of the assets at death within 180 calendar days. Estate Administration Tax is not payable on an estate of $50,000 or less for applications made on or after January 1, 2020, and above that it is $15 for each $1,000 (or part) over $50,000.
Before you distribute, make sure the deceased's tax returns are filed and any balance is paid, and apply for a clearance certificate as needed. Distributing without one makes you personally liable for unpaid tax, up to the value of the assets distributed. Timing and steps vary by estate, so confirm them with a lawyer or accountant.
Key takeaways
- An executor's duties include finding the will, winding up the deceased's affairs, paying taxes, bills and other debts, and distributing what remains to those entitled.
- Estate trustees must keep accurate records of the assets and transactions in the estate.
- After receiving a certificate of appointment, the estate trustee must file an Estate Information Return within 180 calendar days.
- Distributing property without a clearance certificate makes the legal representative personally liable for unpaid tax, up to the value of the assets distributed.