Estate Trustee Inaction Dealing with estate trustee inaction can be daunting. Often the person designated in the last Will of the deceased as executor simply fails to do anything or respond to any correspondence or demands. We believe that it…
Distributing Parts of an Estate The realm of estate management is a multifaceted endeavor, and among its essential facets lies the distribution of assets to beneficiaries. In this in-depth guide, we will dive deep into the intricate world of interim…
The Executor isn’t administering the Estate In the intricate realm of estate management, the role of an executor or estate trustee is a linchpin in navigating the posthumous affairs of a departed individual. Their duties encompass a multifaceted array of…
What are Interim Distributions? An interim distribution is a partial distribution of the estate to beneficiaries before administration is finalized. The Essence of Interim Distributions The key to successful interim distributions of estates is balancing competing considerations reasonably. Deciding whether…
Rule 1 An executor is not automatically liable for the debts of the deceased just because they are the executor. When you step into the role of the executor of an estate you do not automatically become personally liable for…
Stay calm There is nothing wrong with the deceased leaving a few unpaid bills at death. However, too much debt can spell trouble for a prospective executor. It is very important for a prospective executor to get a clear picture…
Many life insurance policies and various savings plans (RRSPs, TFSAs, RRIFs) provide a means for you to designate a ‘beneficiary’, and on the death of the plan/policy holder the funds flow directly to the named beneficiary. It is very common…
Are you experiencing a very slow executor, one who never actually administers the estate? Executors who cannot or will not administer the estate are not uncommon. Sometimes years can go by without the executor having sought an appointment (probate), or…
Life insurance is usually a contract between the insurance company and the policy owner (holder) that requires the insurer to pay an amount to the beneficiary (a third party) on the death of a person (who may or may not…
In Ontario there is a common-law rule of thumb that the executor of the estate has one year from the date of death to wrap up the estate; that is collect all estate assets, pay all estate debts and liabilities,…