Summary Box: Mortgage rates hit low of 4.54 pct. (AP)
AP - RATES KEEP FALLING: Mortgage company Freddie Mac said the average rate for 30-year fixed loans this week was 4.54 percent, down from 4.56 last week.


one a family member, the other a lawyer, bank or trust company. The role involves filing tax returns, investing assets and valuing and selling (or retaining) property. The job of estate settlement includes submitting the Will for probate (proof of validity), safeguarding and inventorying all your assets and liabilities, paying your debts and taxes, and then distributing what is left as your Will directs.

One of your most important decisions is your choice of Executor. Even the best-laid plans will fail if the individual you select is not up to the job. An Executor should be:

1. Trustworthy.

2. Willing, and have the time to act.

3. Impartial toward all beneficiaries.

4. Able to make decisions in a timely fashion.

5. Proficient in business, investment and administrative matters at a level sufficient to handle your estate.

6. Knowledgeable and experienced in estate and trust law and administration.

7. Ideally, your Executor should be younger than you

Tips

• Name an alternate in case your Executor cannot act or dies before you

• An Executor, whether an independent professional or a family member, is entitled to reasonable fee from the estate

• Ask the person first to make sure they understand all the duties involved

If you do not have a Will, or if your Will has not been updated recently, perhaps it is time to meet with a lawyer and get the job done. Take the first step; call Ontario March of Dimes

toll-free at 1-800-263-3463 x 383 for a free copy of "My Personal Organizer" - a handy tool

About The Author

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Editors: These articles are for use in Ontario only

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