Anncr: I’m with Aesha Patel from Cohen Highley. Aesha, who pays ongoing bills of a person after they die?
Aesha: The executor is responsible for ongoing expenses of the deceased, and his or her estate. Payments are made from the assets of the estate. However, most financial institutions will not release funds directly to the executor without a Certificate of Appointment.
Anncr: How long does it take for the executor to receive a Certificate of Appointment?
Aesha: After the application is filed, it often takes 2 to 6 months for the Certificate to be issued. During that time, the executor remains responsible for ongoing obligations of the deceased and the estate.
Anncr: So how are ongoing bills paid before the Certificate of Appointment is issued?
Aesha: Financial institutions may help with direct payment for bills such as mortgages, property taxes, hydro and so on.
