Settle an estate step by step

Taking care of settling an estate cannot be improvised and requires great meticulousness. Besides you need to know and comply with certain laws and regulations. I invite you to contact Mona Salehi Notaire, notary in Montreal ; at 514-903-8560 to settle the estate of a deceased person.

The steps of estate settlement

  • Obtain proof of death
  • Make a will search
  • Verify the will (in the case of a non-notarial will).
  • Analyze provisions regarding the will if a will has been made.
  • Register the appointment of the liquidator in the Register of Personal and Movable Real Rights (RPMRR).
  • Prepare an itemized inventory of the estate listing all real and personal property of the deceased.
  • In the case of a beneficiary estate, ask Revenu Québec for partial authorization to distribute the assets of the estate.
  • Notify creditors of the existence of an inventory by publishing a notice of closure of inventory in the Register of Personal and Movable Real Rights (RPMRR) and in a newspaper circulated in the last location of residence of the deceased.
  • Proceed with liquidation of the estate
  • Prepare the deceased’s tax declaration for the year of death.
  • Proceed with the acceptance or rejection of succession by heirs;
  • Remit the legacy and the share of succession
  • Obtain final authorization to distribute property from Revenu Québec and apply for a clearance certificate from the federal tax authorities.
  • Distribute the remaining assets of the estate.
  • Permanently close the estate’s bank accounts.
  • Proceed with presentation of the accounts.
  • Register an account closure notice in the Register of Personal and Movable Real Rights (RPMRR).

Interesting articles related to settling an estate (French only):

Magazine Protégez-Vous:

http://www.protegez-vous.ca/

The steps described above are not exhaustive. This article does not constitute legal advice. For more information, consult your notary.

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