Canadians keep executors in the family: BMO

56% of Canadians have a will in place, and 80% within this group plan to make the executor of their estates a member of their families says a new report by BMO Harris Private Banking.

By Staff | July 4, 2013 | Last updated on July 4, 2013

1 min read

Fifty-six percent of Canadians have a will in place, and 80% within this group plan to make the executors of their estates a member of their families, says a new report by BMO Harris Private Banking.

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Choosing a spouse or partner is common, 35%, as well as another family member, 29%. Some opt for a lawyer or family friend, 15%, to deal with the 70 separate duties which go along with being executor.

Sara Plant, vice president and national director, BMO Harris Private Banking, stresses this decision must be made carefully. Be sure to ask the candidate first, name an alternate just in case, and chose an executor who is emotionally and mentally prepared for the task.

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