Being named executor of an estate is both an honour and a significant responsibility. As executor, you're legally obligated to administer the deceased's estate according to their will and Ontario law. Here's what's involved.
Immediate Steps After Death
- Locate the original will and any codicils
- Obtain the death certificate (you'll need multiple certified copies)
- Notify relevant parties: banks, pension providers, government agencies
- Secure and protect estate assets
- Arrange for funeral if this wasn't pre-arranged
Applying for Probate (Certificate of Appointment)
For most estates, you'll need to apply to the Ontario Superior Court of Justice for a Certificate of Appointment of Estate Trustee (commonly called "probate"). This certifies your authority to act. Banks, brokerages, and land registry offices usually require it before releasing assets.
Estate Administration Tax (Probate Tax)
Ontario charges estate administration tax at:
- No tax on the first $50,000
- 1.5% on amounts over $50,000
On a $500,000 estate: approximately $6,750 in probate tax.
Executor Duties During Administration
- Open an estate bank account
- Collect all assets and obtain valuations
- Pay valid debts and taxes (final income tax return, clearance certificate from CRA)
- File any outstanding tax returns
- Distribute remaining assets to beneficiaries
- Pass accounts (prepare a formal accounting of what came in and went out)
Timeline
Simple estates: 6-12 months. Complex estates with real estate, businesses, or disputes: 1-3+ years. You should not distribute assets until CRA issues a clearance certificate confirming all taxes have been paid.