Executor Release Form Bc
Description
How to fill out Release And Exoneration Of Executor On Distribution To Beneficiary Of Will And Waiver Of Citation Of Final Settlement?
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FAQ
In BC, an estate trustee has one year to gather the estate assets and settle the affairs of the estate. This is known as the ?executor's year.? It begins to run from the date of death, or from the date the probate application is granted (if it is necessary to apply to probate court).
If you haven't started dealing with any of the estate assets, you can decline ? that is, renounce ? your appointment as executor. You can do this by signing a form called a notice of renunciation. This form will need to be filed in court when someone applies for probate or administration.
To remove an executor of an estate, an interested party can file a petition in probate court. This legal action alleges that the executor is unfit due to reasons such as negligence, misconduct, or incapacity. Such a petition ensures the proper administration of the estate.
A personal representative owes a duty to account to all beneficiaries and any other persons with an interest under the Will. What this means is that they must provide information about the status of the estate and its administration.
In summary, there must be an obvious conflict of interest or some high handed/ neglectful actions on the part of the executor to convince the Court to have the executor removed.