Estate Business

Tuesday, November 11, 2008

My dear aunt passed away in Sept 2007 and my brother and I are executors of her will. We sold her house for a good price last November, and filed her final tax return in April 2008. Once we got the return back from Revenue Canada, we thought we were ready to distribute money to the beneficiaries. Was I wrong! Turns out we had to apply for something called a clearance certificate, which takes 6 - 9 months to process, and then we could do the distribution.

After considering everything from doing nothing and waiting, to firing our current lawyer, my brother and I decided to ask that some of the estate be distributed. After waiting almost a month since we first asked, and many emails later, I finally submitted the last paperwork required and we should be getting the partial distribution soon.

I really think this will help to take the pressure off. The rest of the money will come once the clearance certificate arrives. I'll be so glad when this job is done.


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