Agent for Executor

How our estate settlement services can support you

If you feel burdened by the tasks of settling an estate, or simply lack the time or expertise to undertake your executor role, we are here to help. We are committed to providing you with strong, knowledgeable support, assuming as many or as few of the administrative tasks as your personal situation requires.

Our Commitment to You

Dealing with the loss of a loved one is difficult enough without the added demands of being an executor. Acting as an executor means being responsible for an often lengthy task list that bears with it not only the burden of ensuring a loved one's last wishes are carried out, but legal liability as well.

The tasks associated with settling an estate can seem endless and complex, from arranging the funeral and meeting with beneficiaries, to obtaining probate, protecting and itemizing estate assets, distributing the estate and filing final tax returns. We understand that these necessary administrative tasks are probably not where you want to spend your time, especially while you're also grieving.

• We work with you to customize a solution to fit your needs, ensuring that you receive and pay for only the services that you require
  
• We provide you and your family with impartiality to help ease the pressures that may be caused by complex family dynamics while balancing potentially conflicting interests
  
• We handle as many of the details of the estate administration on your behalf as you require, while you retain the final decision-making authority
  
• We provide the consolidation of marketable securities and proper record keeping of all assets, including complex items such as real estate or jointly held assets
  
• We provide tax assistance and expertise to minimize technical issues and maximize the net value of the estate for the beneficiaries
  
• We facilitate the timely and orderly distribution of assets. Many executors are unaware that it can take years to settle an estate, depending on its complexity. Even the simplest estates will take many hours of work spread over several months

How We Can Help

Our agent for executor service offers personalized and customizable support to address the range and complexity of your needs as executor. Recognizing that every situation is unique, pricing for our services depends on the specific services that you may require, including (but not limited to):

Probating the Will

• Apply for probate or instruct a solicitor to apply for probate
  
• Pay probate taxes to the provincial government as determined
  
• Obtain copies of grant of probate to deal with estate assets

Gathering and Safeguarding Estate Assets

• Verify that adequate insurance is in place to protect assets
  
• Notify banks and institutions where the deceased held accounts or had other dealings
  
• Create an inventory of estate assets and value them
  
• Open an estate account to deposit income, pay expenses and transfer assets and any balances
  
• Investigate all debts owed by the deceased
  
• Cancel all credit card accounts and return cards to issuers
  
• Complete claims for life insurance, company and government pensions

Administering and Distributing the Estate

• Close bank and investment accounts, clear safety deposit boxes and collect insurance proceeds
  
• Manage the investments considering the suitability of specific investments
  
• Pay all debts and settle all legitimate claims
• Prepare and file income tax returns (including any outstanding returns from previous years)
  
• Pay all income taxes owing and obtain tax clearance from Canada Revenue Agency
  
• Initiate the sale of assets and the transfer of titles
  
• Pay legacies, other bequests and the residue of the estate, obtaining receipts from each respective beneficiary after all outstanding debts and taxes have been paid
  
• Prepare a final accounting of all assets, liabilities, expenses and distribution of assets for the beneficiaries

For more information, speak with an RBC advisor, call us at 1-855-833-6511 or visit our website at rbc.com/royaltrust.

If you would like to schedule some time to discuss the items outlined in this article, please click here to access our meeting scheduler.