Estate & Trust Administration
Estate and trust administration is the process of concluding one's affairs and implementing the plan contained in the will or trust, or with no planning, settling the estate in accordance with the law.
Conducting such an estate administration may be complicated, and require the knowledge and skill of an experienced British Columbia estate planning lawyer.
There may be Capital Gains tax and/or other tax related issues that require considering advantageous tax elections, valuations of assets and investments and the filing of appropriate tax returns.
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There may be post-mortem planning opportunities including determining which assets to use or liquidate to fund bequests and the payment of estate expenses.
There may be accountings required by the courts or by the requirements imposed by applicable legislation. In addition, where minors are involved, the Office of the Public Guardian and Trustee of British Columbia must be notified and be involved.
The person tasked with the administration of a trust or estate is a fiduciary with prescribed duties owed to the beneficiaries and others. Bijan Law regularly acts for clients in these matters including obtaining orders for grant of probate and orders for grant of administration.