When must an executor pass accounts in Nova Scotia, and what is the 18-month rule?
This answer covers the law of Nova Scotia.
You generally have to apply to pass the estate's accounts within 18 months of the grant, unless the court orders a longer period. You must also apply when you are seeking a discharge, or when the court orders it. Passing accounts means the court reviews what you collected, paid out and kept.
Keep accurate records of all estate property and debts from the start. You apply on Form 39 for a passing with a hearing or Form 40 for one without, and file your affidavit on Form 43 at least 10 days before the passing date. The hearing date is not less than 45 days from receipt of the application. An interested person who objects files a Notice of Objection on Form 42; without one, they are treated as consenting. The court can require amendments, set the commission and appoint an accountant.
A formal accounting can sometimes be skipped. With your affidavit on Form 37, beneficiary consent on Form 38 and a release on Form 36, accounting may be dispensed with. Whether that suits your estate depends on the facts, so a lawyer can confirm it before you rely on it.
Key takeaways
- You generally must apply to pass accounts within 18 months of the grant unless the court orders a longer period, and also when seeking a discharge or when the court orders it.
- Keep accurate records of all estate property and debts, because your accounts and Form 43 affidavit rest on them.
- The court can set your commission after weighing the estate's size, care, time, skill and success, and a fee set out in the will generally replaces the statutory commission unless the executor renounces it within the time limit, which is worth confirming with a lawyer.
- Form 37 with beneficiary consent on Form 38 and releases on Form 36 can allow a formal accounting to be dispensed with.