As an executor of an estate, you get caught in the machinery. As you begin to seek out change of status, or even such a simple thing as getting cell phone funds transferred, you encounter the chicken and the egg!
You need a death certificate – a funeral director’s certificate usually works, but not always. In which case the wait to process the certificate can take 6 weeks. Then you need verification that you are the executor. A will can provide that, but do you want to expose a cell phone carrier to all the intricacies of a will which have nothing to do with them. So you seek out other forms of verification.
You end up tripping over what was done last and what needs to be done, and which should come first, and what can wait, and . . .
Now, the banks are getting into more complicated processes. A few years ago I opened an estate account for my father. All I needed to do to get money out was write a check. At the end of the year I completed a tax form to verify any income. And I kept my family/beneficiaries informed.
Just this past week I needed to open an estate account for probably the one check that needed to be processed for Jill’s estate. As I set up the account I was told the bank had changed policies. Before I can take money out of the estate account I have to submit bills and have the expenditure approved by the bank.
They are covering themselves – Revenue Canada is being much more diligent in overseeing expenditures in estate accounts. Having said that, I wondered how it has come about that the work of an executor is now being taken over by a bank!!
Oh the mysteries of being an executor in today’s distrustful society!!
I recently got a letter from the government that they are sending around someone to visit to ask questions . Maybe just another way to find out more of your business. Life is just getting so complicated, and you have no privacy, or freedom to do what you want. Seems like there is always someone who wants to control you.