What does an executor actually do?

Most people are familiar with the term “executor”¹ and generally understand it refers to a person responsible for administering a deceased individual’s estate. While that definition is accurate, it is so broad it offers little insight into what the role actually involves.

So, what does an executor do to administer an estate? Although each estate is unique and comes with its own set of tasks, many who take on the role quickly discover the responsibilities are far more numerous and involved than they initially anticipated.

Here are examples of common tasks an executor may be required to perform:

• Planning the funeral—The executor may work with a funeral home and coordinate arrangements with family members to ensure the deceased’s wishes are respected.
• Preparing and selling the home—This may involve taking an inventory of personal belongings, cleaning the home, arranging for appraisals and preparing the home for sale. The executor may also need to put the home on the market and sell it.
• Filing income tax returns—Executors are often required to file more than one tax return, including one return to report the deceased’s income up to the date of death and a second return to report the estate’s income after the deceased’s death. If the estate administration continues for multiple years, additional tax returns may be required.
• Applying for probate—Executors often work with a lawyer to obtain a grant of probate, which is a court process that confirms the executor is authorized to deal with the deceased’s assets and administer the estate.²
• Redirecting mail—Executors typically redirect the deceased’s mail to ensure important correspondence, such as bills, tax slips and notices, is not missed. This process may reveal other accounts, assets or debts an executor was previously unaware of.
• Cancelling and closing accounts—An executor may need to cancel or close a wide range of accounts and subscriptions, including credit cards, offline subscriptions (e.g., newspapers), online subscriptions (e.g., streaming services), phone plans and more. This may also include notifying Service Canada to stop benefits from the Canada Pension Plan (CPP) and Old Age Security (OAS).

This is only a small sample of the many responsibilities an executor may be required to manage, but it helps to illustrate the range of practical duties involved. To support anyone who has been called on to be an executor or who wishes to better understand what the role may require, CI Assante has created an Executor’s Guide (for executors in Canada excluding Québec) and a Liquidator’s Guide (for liquidators in Québec).

I would like to extend a special thank you to my colleague, Nadine Deschênes, wealth planning consultant at CI Assante Private Client, for her invaluable assistance and unwavering support in preparing each blog.

¹In Québec, the term “liquidator” describes the person responsible for administering an estate.
²In Québec, notarial wills do not require probate. However, holograph wills or those made before witnesses must be probated by a court.