The Person Who Inherits the Responsibility
They assume it is an honor to be chosen. In reality, it is one of the most demanding legal responsibilities a person can accept.
Crystal Mirkazemi
Crystal Mirkazemi | WBN News – Vancouver | July 03, 2026
Families often spend months deciding who should inherit their assets. They debate percentages, discuss family cottages, investment accounts, charitable gifts, and the future they hope to leave behind.
Yet one of the most important decisions in an estate plan is often made in a matter of minutes.
"Who should be the executor?"
For many families, the answer is simple: a spouse, an adult child, a sibling, or a trusted friend. They assume it is an honour to be chosen.
In reality, it is one of the most demanding legal responsibilities a person can accept.
An executor is responsible for locating assets, applying for probate where required, communicating with financial institutions, filing final tax returns, paying creditors, managing investments, safeguarding property, resolving disputes among beneficiaries, maintaining detailed records, and ultimately distributing the estate according to the will.
None of these responsibilities disappear simply because the executor is a family member.
In Canada, administering even a relatively straightforward estate commonly takes many months. Estates involving private businesses, multiple properties, blended families, or tax complexities can remain open for several years. During that time, the executor carries a fiduciary obligation—a legal duty to act solely in the best interests of the estate and its beneficiaries.
That obligation carries real consequences.
If an executor distributes assets before outstanding debts or taxes have been satisfied, they may become personally responsible for those amounts. If records are poorly maintained, assets are mismanaged, or beneficiaries successfully challenge the administration of the estate, the executor may face personal financial liability. Canadian courts have repeatedly demonstrated that executors can be held accountable when they fail to meet their fiduciary obligations.
The greatest misconception is that executors simply "read the will."
They do not.
They administer an estate while navigating legal requirements, tax legislation, deadlines, financial institutions, government agencies, and often emotionally charged family dynamics—all during a period of grief.
Ironically, while beneficiaries inherit wealth, the executor often inherits the workload.
This raises an important planning question.
If someone is being entrusted with one of the largest legal responsibilities of their life, have they also been given the financial resources to carry it out?
Many wills are silent on executor compensation. Others provide only vague wording, leaving compensation to provincial legislation or the courts to determine what is reasonable after the work has already been completed. Professional advice, legal representation, accounting services, property maintenance, travel costs, and administrative expenses frequently arise throughout the administration process.
These costs are rarely discussed while the estate plan is being prepared.
Perhaps they should be.
A thoughtfully designed estate plan does more than identify beneficiaries. It anticipates the practical realities of administering the estate. That may include clearly addressing executor compensation, authorizing reimbursement of expenses, encouraging the use of professional legal or accounting support where appropriate, and considering insurance solutions that help protect executors against the financial consequences of honest mistakes.
Estate planning is ultimately about more than deciding who receives your wealth.
It is about ensuring the person responsible for carrying out your final wishes has the resources, protection, and support necessary to do so.
Choosing an executor is an act of confidence.
Preparing them is an act of responsibility.
Article #033
Crystal Mirkazemi | WBN News – Vancouver
My mission is to empower you to think big and build solutions for your family and business. Every milestone of life's journey is a chance to appreciate a financial plan. As I always say: Your most significant asset to be independent lies in your attitude towards money.
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