Our Services

The person named in a will to administer an estate is called the executor (in Québec, the Liquidator). Choosing the right person to act as executor and administer the estate is an important decision. A family member or a friend may be appointed as executor in a will, but choosing the wrong person can be costly to the estate and cause, or intensify, family conflicts. An experienced professional like Solus Trust handles the estate in an unbiased, professional manner that ensures final wishes will be carried out. Our team of experienced trust officers handle sensitive family issues with compassion and objectivity.

Choosing Solus Trust as executor:

By appointing Solus Trust as executor and/or estate trustee in a will, we can take on the full duties of an executor and provide professional, thoughtful administration of estates and trusts at all levels of complexity. We can also serve as trustee of any trusts created through a will.

When Solus Trust is appointed executor, we assume a fiduciary responsibility, ensuring the professional and proper administration of the estate. Our duties include:

• applying for probate
• securing property
• arranging for valuation of assets
• identifying creditors
• notifying and managing relationships with beneficiaries
• recordkeeping
• ensuring taxes are calculated properly and paid on time
• managing assets during the estate period
• distributing assets to beneficiaries
• working in collaboration with your financial, legal and tax advisors

Executor Support Services

Executor Support is a comprehensive service offered by Solus Trust, whereby we can assume all of the executor’s administrative tasks. The executor retains decision-making authority, and Solus Trust carries out minor and major tasks involved in administering the estate on the executor’s behalf. This offering can save the executor countless hours of work and remove the stress involved in managing beneficiary relationships, meeting deadlines and dealing with various financial entities while grieving the loss of a family member or friend.

Executor Checklist

Setting up a trust can be a cornerstone of estate planning. Trust assets are managed by a third party, the trustee. Selecting a trustee to administer the trust is an important decision, as the role involves significant responsibility and can be very demanding. The life of a trust can span several generations, requiring consideration for current and future beneficiaries, so a long-term commitment from the trustee is required.

A trust is a legal relationship created when an individual – “settlor” – sets aside some of their assets to be managed by another person – “trustee” – for the benefit of others – “beneficiaries”. A trust can be created during the individual settlor’s lifetime – “inter-vivos trust” – or through their Will – “testamentary trust”.

Solus Trust can act as trustee of both inter-vivos trusts and testamentary trusts.

Appointing Solus Trust as trustee:

Appointing Solus Trust as trustee, ensures that the trust will be managed in a way that is impartial and professional and achieves its desired objectives and intentions. Our experienced team of trust specialists will work alongside other professional advisors in the planning stages of establishing the Trust or for an appointment of a successor trustee for an existing trust.

Trustee Support Services

Trustee Support is a comprehensive service offered by Solus Trust. The purpose is to provide support to individuals who are trustees and act on their behalf as agent. This service helps to alleviate the administrative burden on trustees, help trustees meet all legal obligations and responsibilities required of them and assist with demanding and high-needs beneficiaries. In this capacity, we provide guidance on decision-making and perform various administrative tasks, such as preparing annual trust tax filings or managing disbursements and maintaining proper trust records. In all scenarios, we are here to provide solutions.

Trustee Support Guide

A power of attorney for property identifies who will step in and be responsible for paying bills as well as managing finances and property in the event the donor is unable to do so themselves. This authority is critical to protect loved ones and the estate. An individual or trust company can also be appointed under either a general power of attorney or a limited power of attorney. Selecting the right power of attorney is very important. In many situations, a spouse or adult child can be the right choice, but not always. A power of attorney should be objective, have the appropriate legal, tax and investment knowledge to manage the property and assets effectively, and ensure continuity.

Appointing Solus Trust as power of attorney for property:

Acting as a power of attorney is an important undertaking with complex obligations. Solus Trust has the independence to act in a truly impartial manner, doing the one thing an attorney must do: Make every decision in the client’s best interests. Solus Trust brings the professional skills and experience necessary to manage the property and finances. We can be appointed as the power of attorney for property, as the alternate power of attorney, or as a co-power of attorney. Whether the assets are in another province or involve a private corporation, real estate, or other complexities, we have the expertise to ensure the property and finances are managed professionally.

Power of Attorney Checklist

Solus Trust’s Simplify. service enables clients to hand off the daily ins and outs of managing personal finances.

We provide the following services and support:

• Bill Payment Support
• Income Receipt Processing
• Recordkeeping
• Important Document Review
• Assistance with Tax Preparation and Filing Coordination

Simplify Service Guide.