Vancouver Estate Administration And Litigation Blog
When older loved ones can no longer make decisions for themselves, you might have to step up to the plate and do so for them. As some people grow older, they experience memory loss, which could make decision-making difficult for them. Some forms of disability or injury could also increase the likelihood of certain adults needing guardians.
Getting the court to appoint you as a guardian could be time-consuming and potentially costly. If you are already the power of attorney for your loved one, you could already be in a position to help.
When a loved one or a trusted friend in British Columbia asks you to be the executor of his or her estate, it is a great honour. It shows that he or she regards you as a trustworthy person who will be able to handle the necessary tasks to close the estate. These include the collection of assets, settlement of debts, filing of the necessary tax returns and the distribution to the beneficiaries.
However, be aware that you have a choice if you are asked to be an executor, and the acceptance of the appointment is up to you. It is important to understand the challenges you will have to face before you give your approval to take on the responsibility.