Administering an estate is no easy job. There’s a many things you need to consider with little time to act.
Here’s a checklist of the top 5 things you need to consider when administering an estate:
- What is the time frame to administer the estate? Can items be removed before probate?
- Are there any items that have been documented in a will to be bequeathed and set aside.
- All items should be inventoried for the estate. For example, furniture, housewares, electronics and jewelry.
- If the estate expects to obtain monetary value for items, consider whether to auction items or conduct an estate sale. Auctions can be either onsite, off-site or online. Estate/content sales are generally onsite.
- Consider donating any unsold or unwanted furniture and housewares to charity to help support families in need of furniture in the community. Here’s a list of charities that will accept gently used furniture and housewares in Toronto and here’s a link to all furniture banks operating in Canada.
- Frequently Asked Questions About Administering an Estate
- How to Administer an Estate on Intestacy
- Where to donate furniture, appliances, clothing, sports equipment (The Toronto Star)
If you any further advise in regards to administering an estate or have any great resources, please share in the comments section!