Trust Administration

Proper, honest and accurate trust administration is very important because the Trustee is handling assets that belong to someone else. We offer legal advice and support to all trustees including executors and estate administrators who have the duty of trust administration in British Columbia.

Many do not realize that every Will automatically has a Trust imposed even in the simplest Will which specifies that the named executor is the sole, unopposed beneficiary who will receive all of the estate.  A trust is created when the legal ownership of an asset is held by someone different than the beneficiary.

Even if you are both the sole beneficiary and named executor, all assets in estates belong to the deceased until the asset(s) is legally conveyed to the beneficiary.  Until the assets are properly distributed, the named Executor in a Will or an Administrator appointed by the Court has the duties and liabilities of a Trustee.  

NOTE - proper distribution first requires the payment of all estate creditors otherwise the executor or administrator can be liable personally to any unpaid creditors.