The person named in a will to administer an estate is called the executor (in Québec, the Liquidator). Choosing the right person to act as executor and administer the estate is an important decision. A family member or a friend may be appointed as executor in a will, but choosing the wrong person can be costly to the estate and cause, or intensify, family conflicts. An experienced professional like Solus Trust handles the estate in an unbiased, professional manner that ensures final wishes will be carried out. Our team of experienced trust officers handle sensitive family issues with compassion and objectivity.
Choosing Solus Trust as executor:
By appointing Solus Trust as executor and/or estate trustee in a will, we can take on the full duties of an executor and provide professional, thoughtful administration of estates and trusts at all levels of complexity. We can also serve as trustee of any trusts created through a will.
When Solus Trust is appointed executor, we assume a fiduciary responsibility, ensuring the professional and proper administration of the estate. Our duties include:
- applying for probate
- securing property
- arranging for valuation of assets
- identifying creditors
- notifying and managing relationships with beneficiaries
- ensuring taxes are calculated properly and paid on time
- managing assets during the estate period
- distributing assets to beneficiaries
- working in collaboration with your financial, legal and tax advisors
Executor Support Services
Executor Support is a comprehensive service offered by Solus Trust, whereby we can assume all of the executor’s administrative tasks. The executor retains decision-making authority, and Solus Trust carries out minor and major tasks involved in administering the estate on the executor’s behalf. This offering can save the executor countless hours of work and remove the stress involved in managing beneficiary relationships, meeting deadlines and dealing with various financial entities while grieving the loss of a family member or friend.