Wealth Advisor, Financial Planner, Portfolio Manager
BMO Nesbitt Burns
475 2nd Ave South, 3rd Floor
|In some Wills, the appointment of an executor is conditional upon a survivorship period, for example, thirty days.
In many circumstances, this may be legally problematic since it leaves the deceased’s body, and the estate assets, without an authorized executor to make decisions and act. Immediately upon death, it is necessary for someone to make decisions and make burial arrangements. If there is no authorized executor (due to the survivorship period), it may be necessary for someone to apply to court to be granted that authority. Such a proceeding is costly and time consuming.
It is also necessary within a short time after death for someone to have authority to pay the funeral expenses and other estate expenses from estate assets. It is necessary for someone to have the authority to retain a lawyer to commence the probate process and to communicate with next of kin regarding all matters – burial and financial.
Therefore, the appointment of the executor in a Will should not be subject to a survivorship period.