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