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Old 02-11-2015, 10:32 PM
007 007 is offline
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Default Executor of insolvent estate

Hello:
I am the executor of my son's estate. The estate was insolvent - no money and a list of creditors. He owned a Condo which was sold with a loss and the bank excepted the loss and signed off. It is my understanding that the out of pocket expenses of the executor, such as funeral and testamentary expenses come before the creditors except secured creditors. He also owed CRA (income tax and HST). All the other creditors (credit cards, loan etc.) signed off.
My question, if there is any money at all, does Rev. Canada come before the funeral costs and other expenses I paid out of my pocket?
I would appreciate any feed back.
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Old 02-11-2015, 10:37 PM
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I'm sorry to hear of your son's death. This is a pretty specialized website for family law, though, so I'm not sure any of us would have your answers.

Last edited by Rioe; 02-11-2015 at 10:39 PM.
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Old 02-11-2015, 11:37 PM
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Thank you - I understand.
If anybody has any knowledge about Estate Law, please let me know.
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Old 02-12-2015, 10:21 AM
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I found this in the document below.

"There are certain expenses which are treated in priority in respect of payment on the assets of the estate. The first is, of course, the costs of the burial and those expenses are first charged upon the assets of the estate."

http://www.hullandhull.com/Text-From...-insolvant.pdf
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Old 02-12-2015, 11:22 AM
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Thank you Paris, excellent website
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