Month: May 2020

10. Tedious Long-term Trusts

So you are managing a trust fund for your nieces and nephews until they reach the age of 25. Will you be able to handle this responsibility? Can you manage investments and file tax returns annually? Are you planning to retire or relocate out of the jurisdiction?…
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8. Wills Can Be Invalid and Contested

Some will contests go on for years, maybe decades. As executor, you may have no authority to take any action. You may, however, be responsible for explaining what you did do, even on a temporary basis. Make sure that before you start acting as executor you get…
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7. Conflict or Conflict of Interest

Even in situations where everything is spelled out in the will down to the smallest detail, there will be disagreements. It is inevitable. As part of the human condition, people disagree. Even in the best of families, there will be questions of interpretation. “That’s not what dad…
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6. Your Age Considerations as Ontario Executor

If you are 82 and live 3,000 miles away, you must seriously consider renouncing as executor. You don’t want to impair your health by administering an estate. Long-distance is a terrible way to find out you have a fire you can’t put out. Don’t start acting as…
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3. Investments and Commercial Real Estate

If there are investments, you will need to prepare a prudent investment plan. If not, you could be held liable for losses on any stock portfolio. You must obtain a proper rate of return on estate investments. Don’t think you can just sell the stocks and put…
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