The executor's role is often referred to as a trustee or fiduciary role. If, for example, the executor wanted to buy something from A guide for executors • Page 4 An executor should refuse to accept the position of executor if their personal interests will be in conflict with the role of the executor, for example: Always seek the advice of a professional regarding matters involving estate settlement. In Ontario, an 'Executor' is referred to as an 'Estate Trustee'. The terms 'Estate Trustee' and 'Executor' will be interchangeable in the document. 3 Grief: The Biggest Obstacle of Estate Settlement The role of an executor is a daunting one. 6 EXECUTOR'S HANDBOOK SECTION 1: The Legal and Regulatory Environment Taking on the role of Executor of an estate comes with serious legal implications. You become a legal Trustee and must abide by the applicable Provincial/Territorial laws regarding estates. You must carry out your duties professionally, wisely and dispassionately. the executor(s) and contact all the institutions holding money belonging to the deceased to have them transfer funds into the new bank account. If you are using a solicitor, they will do this for you. Property or shares can be sold and the proceeds paid into the executor's account or directly transferred to beneficiaries if specified in the Will. 2. Make Funeral Arrangements The will may include instructions for the funeral arrangements. As executor, these responsibilities could include communicating with the funeral home to ensure the wishes of the deceased are carried out. 3. File the Will in Probate Court A copy of the will needs to be filed in probate court.