DIARY OF A PORTFOLIO MANAGER

It’s still November and that means that Make a Will month is still in full swing.

I could be wrong – but I feel most people feel that being someone’s executor is reasonably straightforward. Couple visits to a bank, an accountant, a lawyer, maybe some contact with CRA and done. Ask anyone who had done it and nothing could be further from the truth. See this link, scroll a down to executor job description:

Todd Kennedy - Client lounge (rbcwealthmanagement.com)

I’ve been in many discussions regarding Wills, estates, Powers of attorney, etc. and I think “securing the estate’ is the biggest shock. What does this mean? Well, for one, changing the locks on the home of the deceased because you don’t know who out there has a key. Anyone could enter anytime and help themselves to items that they feel entitled to – and you, as executor, did not protect those assets. I am pretty sure that no one does this but it’s one of the first to do items.

Anyway, on that happy note, reach out to us anytime if you have a questions about this and what you may be 1) up for if asked to act or 2) have named someone who may not be 100% up to the task.

Have yourself a great weekend,

J. Todd Kennedy, CIM, FCSI

Senior Portfolio Manager

613-566-4582