Am I as the executor responsible for the debts of the estate?
In Ontario you are not personally liable for the debts of the estate. However, you are responsible to ensure that all creditors have the opportunity to claim debt from the estate. If you fail to publish a notice to creditors, you can definitely be held personally liable for a debt. This is why is it so important that you follow all required steps to administer the estate. Failure to do so can result in serious penalties. RESOLVED will provide the guidance, tools and resources you need protect yourself, the estate and beneficiaries.
April 04, 2017 by Resolved