What does "renunciation" mean for an executor in Ontario?

Renunciation in the context of an executor in Ontario refers specifically to the withdrawal from serving in that capacity. When an individual is appointed as an executor of a will, they have the option to accept the role or to renounce it. Choosing to renounce means that the individual is declining the responsibility and duties associated with the role of executor and will not be involved in the administration of the estate.

This concept is essential because it allows individuals who may not feel qualified or willing to manage the responsibilities of administering a deceased person's estate to formally decline the position. Renunciation can help prevent potential complications that could arise if an executor were to accept the role without being fully committed or equipped to handle the duties, such as settling debts, distributing assets, and dealing with beneficiaries.

The other options reflect different aspects of the executor’s responsibilities or stance but do not capture the specific legal meaning of renunciation, which is fundamentally about stepping back from the role.