The stress of being an Executor
Though I respect the Globe and Mail, I disagree with a recent article by Augusta Dwyer.
It quotes Douglas Gray, author of The Canadian Guide to Will and Estate Planning. Mr. Gray seems to feel that being an Executor (now called “Personal Representative” in B.C.) is probably the most stressful experience you’ll ever have.
I have not read the book, to be fair, but being an Executor need not be a blood pressure-raising experience.
What a named Executor should do is see an Estate Lawyer.
Suffice it to say that no two Estates are alike, so don’t assume you can read a book and understand everything. Any person named as an Executor should really get advice from an Estate Lawyer.
What you’ll want to know is the extent of the assets and tax concerns in the Estate, who the beneficiaries are and whether any are likely to challenge the Will.
An Executor should not assume that she or he has to do everything her/himself. They can get assistance (from Accountants, Lawyers, etc.).
There are, in my opinion, more stressful things in life than being an Executor.
This ad ran in the Richmond News on January 22, 2016.