What Does an Estate Trustee Do?

When a person dies, their estate needs careful management to ensure assets are distributed correctly, debts are settled, and taxes are paid. In Ontario, the Estate Trustee (sometimes called the executor) is the person with legal authority to handle this process.
 

Key Responsibilities of an Estate Trustee

• Locate and review the will (if there is one) and any other relevant estate documents.
• Make funeral, burial, or cremation arrangements as instructed by the deceased or family.
• Identify, secure, and value all estate assets—such as real estate, bank accounts, vehicles, and valuables—and obtain the death certificate.
• Notify beneficiaries, banks, government agencies, and service providers about the passing.
• Open a separate bank account for the estate and manage all incoming and outgoing transactions.
• Pay outstanding debts and taxes, and file final tax returns on behalf of the deceased and the estate.
• Apply for probate, which is the legal process for confirming the will and the trustee’s authority if required.
• Keep detailed records and provide accounting to beneficiaries before distributing assets.
• Distribute the assets according to the will, or according to intestacy rules if there is no will.

Fiduciary Duties and Accountability of the Estate Trustee

 
Estate Trustees have a fiduciary obligation to act in the best interests of the estate and its beneficiaries. This means they must avoid conflicts of interest, treat beneficiaries impartially, and always follow the terms of the will (or applicable law if there is no will). Failure to meet these standards can lead to personal liability and disputes.
 

Getting Help and Managing Risks as an Estate Trustee

 
Being an Estate Trustee involves significant legal responsibilities and administrative challenges. Trustees can and should seek advice from professionals like lawyers and accountants. Estate trustee insurance can also protect against errors in the administration process.

Taking on the role of estate trustee is an important responsibility and should never be undertaken lightly. Careful record-keeping, timely action, and clear communication with all parties can help ensure that the estate is settled efficiently and legally.

For More Information

For more tailored advice and practical tips on estate planning or trustee duties, reach out to Peter@Smartwills.ca for a complimentary consultation.

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