Choosing an executor is often viewed as one of the most important choices an individual can make. This individual is responsible for closing out the estate, which includes numerous tasks such as gathering and protecting assets, paying bills and taxes, and eventually distributing those assets. If it becomes evident that a British Columbia executor is failing to complete these tasks well, if at all, estate litigation may become necessary in order to remove and replace that individual.
Avoiding probate taxes is one goal of estate planning. Some take steps they believe will help them meet their goals, but they do not anticipate the side effects of their decisions. For example, adding an adult child's name to the title of one's home may save some probate tax, but it may result in other costs, including estate litigation, that could be devastating for the child and the rest of the family.