When a person passes away, someone has to look after their belongings. However, in Ontario, there are strict laws about how this can happen.
Unfortunately, becoming an executor isn’t as simple as a handshake agreement or even having your name written in the will. Instead, if you’re looking to become an estate executor in Ontario, you’ll need to follow a process called probate, which can be complex in its own right.
Not to mention, one of the most common reasons that people pursue executorship is because their parents (or another family member) have passed away and they want to sell the family home.
Luckily, becoming the executor of a family member’s estate and selling their home doesn’t have to be an overwhelming process. In fact, with the right professional help, you’ll be able to get through it without stress.
Note: If you’re selling the home of an individual who is still alive, you will require Power of Attorney (POA) rather than executorship. Click here to learn more.
Ontario Probate Basics
In layman’s terms, probate is the formal legal process of being designated as an estate executor. Similar to POA, it’s something that is managed by the provincial court.
It’s a common misconception that if you’ve already been named as the executor in the will, you won’t have to follow probate. This isn’t the case. Even if the deceased has explicitly designated you as the sole executor, you’ll need to have their wishes approved and verified by the court before you’re able to proceed with your duties.
Keep in mind that you can’t proceed with certain things (like finalizing a home sale) until the probate process has been completed, so it’s important to get the ball rolling as soon as you can.
Selling someone’s home for them? Explore these other blogs from our website.
- How to Have A Home on the Market in One Month
- How to Sell a Home for a Family Member in Ontario
- Staging Your Home to Sell: Should You Hire a Professional?
What if the Deceased Didn’t Have an Executor in Place?
If there is no will, or the will doesn’t already specify who should become the executor, technically anyone can step up and apply. Of course, it’s usually an (adult) child, another family member, or a close friend of the deceased.
On that note, if you’ve been named as an executor in someone’s will but don’t want to take on the responsibility, someone else can step up and follow the probate process in your place.
Estate Executorship & Home Selling
Being an executor comes with a lot of responsibilities. Beyond just managing the deceased’s debts and assets, you’re also on the hook for all kinds of personal wishes left in the will. This includes things like funeral arrangements, financial donations, or even re-homing pets. That said, arguably the largest process involved in estate management is selling the deceased’s home.
Just like selling your own home, preparing, listing, and finalizing the sale of a family member’s property is a monumental task – often taking several weeks or even months. Plus, there are also a whole host of considerations about what happens after the sale. For instance, depending on how the home was used, you and other beneficiaries could be on the hook for capital gains tax.
All that said, if you’re selling someone’s home after they’ve passed away, you’ll want to partner with a real estate agent who specifically specializes in estate home sales. More on that next.
Looking for situation-specific home selling advice? Check out these other blog posts!
Selling Your Loved One’s Home? We Can Help
When it comes to selling a loved one’s home after they’ve passed, becoming an estate executor is just one piece of the puzzle. Consider this – if the home you’re taking responsibility for has been lived in for a long time, there will probably be some work to do before it’s market-ready. Essential steps like sorting through belongings, decluttering, and making upgrades can add up to a whole lot of time and effort. That’s where we come in.
If you’re looking to sell a home as part of your executorship duties, give us a call. We’re experts in estate planning and real estate, and our complete white-glove service eliminates the headaches of selling.
Our full-service approach lets you focus your attention and energy on the things that matter. After all, even with our team taking on the heavy lifting, selling a loved one’s home can be an emotional process. We make it as easy as it can be.
Regardless of what your personal or familial circumstances look like, we’re able to manage your home sale from start to finish. We’ll help you sort through decades’ worth of belongings, manage timelines and expectations, get the home market-ready, and of course, achieve a top-dollar sale.
Searching for a full-service real estate team to guide you through an estate sale? Call us at 416-903-3695 or send us an email at team@mutchpropertygroup.com.
