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What will you learn about?

  • The duties of the executor, trustee, or liquidator during the first stages of the estate administration.
  • Description of the fiduciary duties of these parties under both common law and the Civil Code.
  • How the executor is appointed, and what happens when the appointment is either accepted or declined.
  • Presentation of a process to be followed in the early stages of estate administration.
  • How the probate process works in both common law and Civil Code provinces.
  • The appraisal and valuation process in estate administration.
  • The extent of the executor’s powers when making investment decisions.
  • How ownership of a deceased person’s assets is transferred to the estate’s beneficiaries.
  • The forms of distribution and the manner in which they are distributed.
  • Explanation of how matrimonial property rights in the common law provinces and under the Civil Code can affect the distribution of assets.
  • How estate assets are taxed and the process the executor must use when filing the various tax returns

What is the course syllabus?

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Module 1 – Starting the Administration Process

Topics covered in this module are:

  • First Steps in the Administration of an Estate
  • Communication to Interested Parties
  • Documentation and Accounting
  • Identify and Protect the Estate’s Assets

Module 2 – Probate and Valuation of the Estate

Topics covered in this module are:

  • Process and Cost of Probate
  • Use and Supervision of External Specialists and Agents
  • Valuation and Administration of Assets and Liabilities
  • Investment Powers and Decisions

Module 3 – Transfer of Ownership, Family Law Considerations, and Tax Returns

Topics covered in this module are:

  • Transfer of Ownership of Assets of the Deceased
  • Distribution of Residue
  • Family Law, Matrimonial Law, and Dependant Relief Claims and Support After Death
  • Taxation of the Deceased