An executor is the male term and "executrix" is the female term for the personal representative of your estate. They are the person in charge of taking control of your assets, paying off any debts, and distributing assets to your beneficiaries per the terms and conditions of your will. You can choose anyone to be the executor / executrix of your will, but it is a good idea to choose someone who is both competent and trustworthy. The person you choose to be executor / executrix should be outlined in your will. Someone you appoint to be the executor / executrix of your will has the right to refuse, so you should have a backup executor / executrix in place just in case.
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What is to be done with bank accounts after a death varies by province. In some provinces, bank accounts are automatically frozen after a death.
To avoid any complications, the bank should be notified immediately, and you should find out the procedures for releasing these funds, and how to set up a new account for funds received after the death.
Everyone knows they should have a will, but the vast majority – about 70% of us – do not.
Writing a will is easy and inexpensive, and once you are done you can rest easy knowing your hard earned money and property will be distributed according to your wishes.
Did you know...
There are many types of service available to you?
If no pre-arrangements have been made, the type of service is entirely up to you. Services are usually held at a funeral home or a place of worship. There is a wealth of different services, ranging from a traditional religious or military service to something a little more non-traditional. Our funeral directors are more than happy to work with you to figure out what would be the most appropriate.