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I'm probably better equipped than most of my clients to handle the role of an executor. I've been an investment and retirement planner with RBC for four years, and I have a career in banking spanning 32 years. Then in 2016, my best friend entered the hospital with a life threatening illness, and she had named me as an executor. I had the forethought to discuss with her the possibility of obtaining help if things got too complicated. And there were complications right from the start.
Upon her passing, all I wanted to do was to be there for her three young boys. I quickly saw that that could not happen if I spent all my time and energy trying to settle the estate. So I called Celia Ong, a estate and trust advisor, to discuss if RBC Estate & Trust Services could help. My estate and trust advisor stepped in and immediately outlined what had to be done and how. The great part was I had to do very little and could focus on the boys.
To be clear, I always felt engaged and involved. I was just able to let Estate & Trust Services do all the heavy lifting, the details, and the next steps. When you are an executor, you worry that your decisions may be challenged. Not in my case, because I had the support of the professionals.
Being an executor can be an overwhelming and challenging responsibility. A first time executor might not know where to start or might not be aware of their duties, responsibilities, and liabilities for that matter. In this case, Downeen has a full time job and family of her own to care for, and now looking after a second family. Acting in the best interest of her friend's estate meant using RBC's agent for executive services and having professional advice every step of the way.
As an RBC Estate & Trust advisor, I like knowing we can help our clients in their time of need. RBC simplifies the estate administration process and lightens the load executors might feel. Given the responsibility, risk, and time commitment involved, it's good to know that we have a caring team of experts that are here to help.
As the population ages, we all seek to better equip ourselves with the tools and resources to help our clients navigate through their various life events. Rest assured that Estate & Trust services has the right professionals, with the right expertise, and the right approach to be a part of your team of professional experts.
This video is provided by RBC Wealth Management for informational purposes only. The comments contained in this video are general in nature, and do not constitute legal, investment, trust, estate, accounting or tax advice. RBC Dominion Securities Inc.*, Royal Trust Corporation of Canada, The Royal Trust Company, RBC PH&N Investment Counsel Inc., RBC Wealth Management Financial Services Inc. are affiliated corporate entities and member companies of RBC Wealth Management, a business segment of Royal Bank of Canada. *Member – Canadian Investor Protection Fund. Please visit www.rbc.com/legal/ for further information on the entities that are member companies of RBC Wealth Management. ®/TM Trademark(s) of Royal Bank of Canada. Used under license. © 2021 Royal Bank of Canada. All rights reserved.
