True or false?
The liquidator assumes personal liability when accepting the responsibility for settling the estate.

Answer: True. Indeed, by agreeing to liquidate an estate, a liquidator becomes the administrator of someone else’s assets and must act carefully. Therefore, it is highly recommended that you speak to your notary for proper guidance.

Description

Succession settlement is the responsibility of the estate liquidator, formerly known as the executor of the will. Their first task is to identify whether there is a will through a will probe, which is obligatory in all cases.

The liquidator is then appointed in a will, or by heirs when they reach the age of majority, to undertake all the necessary procedures to divide the assets. This role is rarely assigned to a professional, and therefore a family member or a friend handles the tasks. Losing a loved one is complex, and settling an estate is not always easy. Combining the two is sometimes difficult. Our notaries will assist you, from start to finish, through all the stages, knowing that various emotions mark these stages.

Therefore, the rules provided for by the law will be explained to you with kindness to help you always make informed decisions.

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