Estate Assist. Solutions for Executors. Estate & Trust Services from Scotiatrust

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1 Estate Assist Solutions for Executors Estate & Trust Services from Scotiatrust

2 Gain peace of mind in fulfilling your Executor responsibilities by retaining the professionals at Scotiatrust to assist you at this critical time. For your peace of mind Our Estate Assist service can be invaluable especially if you face time or distance challenges, are uncertain about the tasks and duties required, are concerned about personal liability, or where the potential for family or beneficiary issues exist. There is no charge for consulting with us and we will provide you with a complete estimate of the costs prior to commencing any work.

3 Fulfilling your Executor responsibilities You have been appointed as the Executor of an estate because a family member or friend had the confidence in you to carry out their wishes as stated in their Will. While being an Executor is an honour, it s also a highly demanding and time-consuming responsibility. You may even be exposed to personal financial risk if the administration of the estate is not handled in the proper way. With today s increasingly complex estate and tax legislation, it s a more challenging and complicated task than ever. It s good to know that Executors are not expected to fulfill all their duties and responsibilities personally. Should you wish to be certain your Executor duties are carried out correctly, our Estate Assist service can help. The estate and trust professionals at Scotiatrust have been managing estates and helping Executors for over 100 years. Our approach is flexible. You remain in control, directing which activities you would like us to manage and which, if any, you would prefer to undertake yourself. If you retain Scotiatrust to act for you, a dedicated Trust Officer will perform as many of the duties involved in the administration of the estate as you require. The Trust Officer reports regularly to you and, where applicable, the beneficiaries, while you remain responsible for making the key decisions. And, where the Will establishes one or more trusts, we can work with you in your longer term role as trustee. Gain peace of mind with Estate Assist.

4 Some of the duties that fall to you as Executor include: Retaining Scotiatrust to act as your agent allows you to: Identify, secure, and prepare an inventory of the assets of the estate Obtain probate, where required Settle outstanding debts and liabilities Prepare and file all tax returns and obtain clearance certificate(s) Manage all assets until they are distributed or sold Set up testamentary trusts and arrange for ongoing review of investments as Will directs Prepare a full accounting of the estate, detailing all transactions for the approval of the beneficiaries Choose the level of assistance you need Save time and gain peace of mind Reduce the risk of personal liability Benefit from access to specialists in tax, estate and trust law, management and consolidation of investments, and other key areas Accelerate completion of your estate administration Benefit from an impartial third party who is sensitive to the needs and concerns of family members/beneficiaries Our Estate Assist service can be invaluable especially if you face time or distance challenges, are uncertain about the tasks and duties required, are concerned about personal liability, or where the potential for family or beneficiary issues exist. There is no charge for consulting with us and we will provide you with a complete fee estimate prior to commencing any work.

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6 Registered trademarks of The Bank of Nova Scotia, used under license where applicable. Copyright 2013 The Bank of Nova Scotia. All rights reserved. Estate and trust services are provided by The Bank of Nova Scotia Trust Company. This document is intended to provide general information related to executors and estate administration and is not intended as legal, tax or other advice. No one should act upon this information without seeking the advice of his or her own professional advisors (02/13)