Montreal, Quebec, Canada — February 20, 2024 — Estateably, a leader in cloud-based estate and trust administration technology, today launched a digital Notice to Creditors application that streamlines the process of publishing required estate notices to creditors for executors and estate professionals. The new application seamlessly integrates into Estateably’s trust and estate administration platform, saving executors time and resources by eliminating the need for duplicate data entries.
Estateably’s Notice to Creditors application helps executors to meet their legal requirements to publish notices to creditors and to protect themselves from estate and executor liabilities. If an executor does not advertise for creditors and the deceased has an outstanding debt, they may be personally liable for the full amount of the debt. The solution is now available in Canada and will roll out across the United States this year.
"The launch of our Notice to Creditors application is a direct response to the demand for more efficient methods of managing the creditor notification process,” said Ari Brojde, Co-Founder and CEO of Estateably. “Digitizing the notice to creditor requirement is a significant leap forward in the estate administration process. It reduces the administrative burden on executors and professionals, ensures compliance, and mitigates estate and personal executor liabilities."
A growing number of jurisdictions in Canada and the United States allow notices to be published online, a more cost-effective and efficient process of notifying potential creditors than traditional print notices. Notices published through Estateably can be publicly accessed on Estatably’s Notice to Creditors Feed.
“Estateably’s application streamlines the notice to creditor process by pre-populating the decedent's details and separating the billing for accurate and transparent accounting,” said Karryna Spencer, Legal Assistant at Moutsatsos Laakso Alexander LLP. “It’s user-friendly and fully integrated into the platform, safeguarding estates and ensuring that the asset distribution process flows smoothly.”
Executors and estate professionals can publish a notice through Estateably with or without an account. Posting a notice through Estateably costs an industry-low $105 compared to print, which can cost more than $1,000 for a single notice. Estateably also offers an affidavit of publication for a notice to creditors for an additional $40 fee.
About Estateably
Estateably is a leading cloud-based platform enabling professionals to streamline their estate and trust administration practices. Professionals save time through the automation of probate forms and precedent letters, the ability to manage inventory and contacts with easy-to-use accounting and one-click reports. The award-winning platform is used by over 800 firms and over 2,500 practitioners across Canada and the United States. Estateably is SOC2 Type II certified. The company has been voted the top estate and trust administration software by Canadian Lawyer Magazine and named an industry leader by American LegalTech and others. Learn more at www.estateably.com.
Estateably Inc. © 2024
Estateably Inc. © 2023
