The Tax Chick Podcast Will you be my executor? The role of the corporate executor in estate planning, with Anisa Diwan
Dec 15, 2022
Join Anisa Diwan, a Wills and Estates advisor at RBC Royal Trust, as she unpacks the intricacies of appointing a corporate executor. Discover why using a corporate executor might be the best choice for complex estates, particularly in families with blended dynamics or business ownership. Anisa explains the process of appointment, costs involved, and what happens after you pass away. With insights on family collaboration and support systems like Artie the Executor Helper, this discussion is essential for anyone navigating estate planning.
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Executor Choice Is More Than Trust
- Choosing an executor requires more thought than picking a trusted family member or friend.
- Objectivity, level-headedness, financial acumen, time and willingness matter more than relationship.
When To Consider A Corporate Executor
- Consider a corporate executor if you lack an objective, timely, or financially savvy candidate.
- Use a trust company when estates include businesses, foreign assets, blended families, or long-term dependent beneficiaries.
Corporate Executors Protect Family Harmony
- Corporate executors preserve family harmony by acting objectively and transparently.
- They can prevent perceived unfair workload or distribution among beneficiaries during grief.
