British Columbia residents interested in probate and estate planning issues may want some information on the different types of trusts. Depending on how they are used, there may be issues with the trust changing categories.
The legal representative of a decedent is the individual either appointed by the court as the administrator of the estate or named executor of the will in British Columbia and other provinces. In Quebec, this role applies to the person named liquidator of the estate as well. A representative has certain legal responsibilities to fulfill, though the legal representative may name a second person as authorized representative in their place by filing Form T1013 with the Canada Revenue Agency.
Personal representatives may be discharged from an estate either through their own application for discharge or by the application of another party. There are several reasons why a personal representative may need to be removed.
When an individual is named the administrator of a deceased person's estate in British Columbia, the job may overwhelm them. Oftentimes, the administrator of the estate was a close friend or relative of the deceased person, and they are going through a grieving process. If the administrator has little experience dealing with financial matters, this can make the job even more difficult.
It may be difficult for some readers to think about and plan for end-of-life issues, and it can be tempting to put off estate planning and will preparation. The Wills, Estates and Succession Act recently passed in British Columbia outlines how a person's estate will be handled in probate in the event that there is no will.