ETP Canada has launched Executor Ready, an online platform designed to educate executors on the many aspects of the role, which can include carrying out the wishes of the will, hiring professionals (accountants, lawyers, real estate agents), filing tax returns for the deceased and the estate, reporting to the beneficiaries and much more.
Oftentimes the executor is a grieving friend or family member themselves – and they need support.
Debbie Stanley, ETP Canada’s founder, says, “We aim to bring a kind, friendly experience to our clients and focus on education for the estate administration experience with our supportive, reassuring and clear professional manner. At the end of the day, we want our clients to feel peace of mind when they choose to work with us, and feel the weight lift off of their shoulders when we come on board to assist them.”
It is important to understand the full scope of the role if you are asked to be an executor.
Once the role is accepted and the executor starts their job, there is a legal obligation to see the task through. In addition to many months of personal time and effort, executors may have to spend their own funds to cover expenses for the estate until the estate’s cashflow is available. While paying bills from the estate may be the plan, it takes time for funds from insurance or locked bank accounts to become available. Additionally, if the executor is planning on taking compensation for their role, they must understand that this payment is taxable income, and tax requirements are applicable to this renumeration to the executor.
The Executor Ready course will help potential executors understand all this, and more. Stanley explains, “The idea is to give families a high level overview of what the job of an executor looks like. We often see many people who are confused as to where to start, what the various terms are and even which professionals to turn to. Often costs scare away clients from even investigating further into the things they should know.”
She continues, “We have created an easy-to-navigate and follow online course at an affordable price so we can help as many families as possible learn more about this important role.”
More than executors can benefit from the course. Those creating their wills should also take the course, so they know whom to choose for this very important role. If they do not feel a friend or family member is best suited, ETP Canada provides professional executor services.
Designed for chosen or potential executors, for those making a will or for anyone seeking to learn more, this course is one of a kind.
“Executor Ready is different because we are bringing it to the everyday Canadian and there is currently nothing like this on the market that is as engaging and easy to follow,” says Stanley. “When an executor looks for information online, they are bombarded with instructions, checklists and data overload. We wanted to make that information friendly and much less intimidating for anyone who wants to learn more about this role that their family or friend has trusted them with. We want families to stop feeling so alone, which is why we offer the course across Canada and are working with other companies in the industry such as Willful and Sidedrawer with strategic partnerships in order to get Executor Ready into the hands of Canadians.”
To learn more about the Executor Ready course, sign up online.