CHOOSE YOUR LIQUIDATOR WISELY

Choosing the right liquidator is crucial to estate planning. To help you make the right choice, here are some questions you should try to answer.

1. Is your liquidator competent in every area of estate settlement, including taxes, real estate, insurance, accounting, investments, managing a company, etc.?
   
   
2. Does your liquidator understand the financial responsibilities of his/her role, including identifying and taking possession of the assets, making an inventory and evaluating the property, drawing up the estate statement, provisionally managing the assets, paying debts, filing tax returns, etc.?
   
   
3. Does the liquidator have enough time to fully and successfully discharge his/her duties? Depending on the estate, that could mean anything from a few hours a day to a full-time job!
   
   
4. Are you certain that your liquidator will maintain complete confidentiality in carrying out his/her duties? Remain impartial? And be able to stand up to possible pressure from certain individuals?
   
   
5. Does your liquidator have an up-to-date list of your assets and where they are located?
   
   
6. Does your liquidator know that he or she has been chosen to settle your estate? If so, has he/she formally agreed to accept the related responsibilities?

If your answer to one or more of these questions is no, then your estate planning is incomplete. In this case, contact one of our consultants.