Despite best efforts, some wills contain oversights, ambiguities or spelling mistakes.
Most Canadians are familiar with the duties of an estate executor. But what are the duties of the trustee? And what happens if the trustee doesn’t perform them properly? Different roles; same people Anthea Law, partner at Vogel LLP in Calgary, says that, legally, an executor of an estate is distinct and different from a […]
If you become a trustee, what are your duties?
Paying estate debts: it’s one of the executor’s most important duties. But what is the process? Who gets paid first? And can creditors jump the queue? Discretion with solvent estates The answers to these questions depend on whether the estate is solvent, explains David Mifsud, associate at Ross & McBride LLP in Hamilton. “Assuming that […]
Paying estate debts is one of the executor’s most important duties, but what is the process?
In an ideal world, estates would have clearly written, legally drafted and current wills. In the real world, things aren’t always as neat. Sometimes, a beneficiary comes forward with a will newer than the one the executor’s using. What then? Remain neutral Richard Niedermayer of Stewart McKelvey in Halifax says it’s uncommon for a second […]
In an ideal world, an estate would have one will; in the real world, things aren't always so neat
One of the first responsibilities of any executor is to make funeral arrangements for the deceased. But what if the will doesn’t mention funeral arrangements? Who decides what happens at the funeral—and at what cost? Wide discretion Mary-Jane Wilson, partner at Wilson Rasmussen LLP in Surrey, B.C., says executors have final say on all decisions […]
If you're an executor, make sure you understand your role in funeral planning
Valuing an estate for probate used to be relatively simple in Ontario: executors entered the total value of the estate on the probate application, signed an accompanying affidavit stating the valuation was correct, and that was usually that. Not any more. As of January 1, Ontario executors (known as estate trustees) must file an Estate […]