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Created page with "{{DEMOWARNING}} {{Being an Executor}} ; Estate Administrator: The person who applies to and is appointed by the court to take charge of an estate, in accordance with the Esta..."
{{DEMOWARNING}}
{{Being an Executor}}
; Estate Administrator:
The person who applies to and
is appointed by the court to take
charge of an estate, in accordance
with the Estate Administration
Act. This can occur when there is
no valid Will, or if there is a Will
and no executor is named or able
to take charge of the estate.
;Affidavits: A written statement that contains
important facts you want the
judge in court to know about.
;Assets: What you own. Assets can
include things such as money,
land, investments, and personal
possessions such as jewelry and
furniture.
;Beneficiary: A person who, under the terms
of the Will, receives a benefit, a
specific item or sum of money, a
life interest in the assets of the
estate or a share of the residue.
;Bond: A bond insures the value of the
estate.
;Debts: What you owe. Also called
liabilities. At death, these may
include credit card balances,
loans, and mortgages.
;Estate: All of the property and belongings
you own at your death. The estate
does not include property you
own with someone else in joint
tenancy, or joint bank accounts.
The estate does not include
insurance policies, RRSPs or RRIFs,
or other things you own which
specifically name someone as your
beneficiary.
;Executor: The person you name in your Will
who is responsible for managing
your estate and for carrying out
the instructions in the Will.
;Intermeddled: To interfere in the affairs of
others. Particularly with the
assets or liabilities of the
deceased.
;Probate: A legal procedure that confirms
the Will can be acted on and
authorizes the executor to act.
Residue The part of an estate that is left
after the payment of charges,
debts, and bequests.
;Trust: A part of your estate that is set up
to ensure ongoing income for a
beneficiary, usually a dependent
child.
;Trustee: The person or company you
name to manage a trust.
;Will: A document, conforming to the
requirements of British Columbia
law, that contains directions for
the disposal or distribution of a
person’s assets after his or her
death.
{{Being an Executor}}
; Estate Administrator:
The person who applies to and
is appointed by the court to take
charge of an estate, in accordance
with the Estate Administration
Act. This can occur when there is
no valid Will, or if there is a Will
and no executor is named or able
to take charge of the estate.
;Affidavits: A written statement that contains
important facts you want the
judge in court to know about.
;Assets: What you own. Assets can
include things such as money,
land, investments, and personal
possessions such as jewelry and
furniture.
;Beneficiary: A person who, under the terms
of the Will, receives a benefit, a
specific item or sum of money, a
life interest in the assets of the
estate or a share of the residue.
;Bond: A bond insures the value of the
estate.
;Debts: What you owe. Also called
liabilities. At death, these may
include credit card balances,
loans, and mortgages.
;Estate: All of the property and belongings
you own at your death. The estate
does not include property you
own with someone else in joint
tenancy, or joint bank accounts.
The estate does not include
insurance policies, RRSPs or RRIFs,
or other things you own which
specifically name someone as your
beneficiary.
;Executor: The person you name in your Will
who is responsible for managing
your estate and for carrying out
the instructions in the Will.
;Intermeddled: To interfere in the affairs of
others. Particularly with the
assets or liabilities of the
deceased.
;Probate: A legal procedure that confirms
the Will can be acted on and
authorizes the executor to act.
Residue The part of an estate that is left
after the payment of charges,
debts, and bequests.
;Trust: A part of your estate that is set up
to ensure ongoing income for a
beneficiary, usually a dependent
child.
;Trustee: The person or company you
name to manage a trust.
;Will: A document, conforming to the
requirements of British Columbia
law, that contains directions for
the disposal or distribution of a
person’s assets after his or her
death.