It is possible for us to start the file of an estate liquidation, remotely, for the complete process. Following the authorization of the Justice Ministry, we have taken the necessary equipment to adapt to the new conditions caused by the Coronavirus crisis. It will still be possible to start the file in person, in our office, upon the observation of social distancing measures, as of May 5, 2020.
Contact us at 514-903-8560 to start the settlement of an estate.
“Your notary, a reliable source”
Estate liquidation (estate settlement)
Following the death of a person, the settlement (also called liquidation) of the estate must be carried out. Settlement or liquidation of an estate requires certain steps to be followed and must be done in accordance with the law. Settlement of an estate combines the legal, administrative and financial steps that will allow the estate to be liquidated and the deceased’s assets to be disposed of (money, movable and immovable property), providing that the estate is solvent. This responsibility falls on the liquidator of the estate.
In the case of an insolvent estate, it is possible to renounce an estate, just as it is possible to relinquish the office of liquidator. Mtre Mona Salehi, notary, and her team are professionals who are ideally suited to assist you in the settlement of an estate and as liquidator of an estate.
Certain steps of the liquidation of an estate could be delayed if it is a legal estate (the deceased person did not have a will) or a testamentary estate (the deceased person had a will).
In this case, Mtre Salehi and the collaborating notaries in her Firm will take care of the various stages of the estate settlement and liquidation such as:
- collecting information and documents (death certificates, will search, etc.)
- verification of the notarized will, holographic will or will before witnesses.
- identification of the heir or heirs
- identification and appointment of the liquidator
- liquidation of the estate’s patrimony
- tax declarations (through an accountant)
- obtaining various discharge certificates authorizing the distribution of estate property
- drawing up the estate inventory
- payment to creditors
- rendering of accounts
- delivery of property to heirs
The risks of liquidating an estate by yourself
There are many risks of errors when you are not experienced in estate liquidation. In some cases, the liquidator may be held liable or the heirs may have to pay the estate’s debts.
Frequent oversights include, for example, when a person owns one or more buildings, a lay person liquidating the estate may not necessarily know how to make a property transfer declaration to formalize the transfer of the property. Therefore, he may end up with an offer to purchase that could be cancelled since deadlines have passed or other avoidable problems.
Choosing a notary to support you
The support of a professional jurist for the agreement is very useful in this type of situation since there can be a lot of emotions and feelings between the deceased’s family members and heirs. As a neutral and disinterested intervenor, Mtre Mona Salehi and her team will carry out all or some of the steps, if you want certain tasks to be performed. The notary can also be designated liquidator in a will that he did not receive himself or by the heirs. It often happens that an heir relinquishes his office of liquidator and entrusts it to Mtre Mona Salehi or to a notary of her Firm.
Are you looking for a notary in Montreal to relinquish an estate?
Contact Mtre Mona Salehi without delay at 514 903-8560.