Question: As executor of a parent’s estate, do you need insurance to protect you? James Daw’s Toronto Star article at moneyville.ca suggests one answer is ERAssure.com. I’ll give you more info to consider. But you must check out this company’s site. It’s a marketer’s dream. Study it…
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Any breach of executor’s duty can result in a charge of misconduct against them. Here’s a short list to remind you of possible executor breaches of fiduciary duty: • financial negligence handling estate assets causing loss • failure to properly invest estate assets • failure to complete…
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Estate planning is confusing and many people want to avoid lawyers. Many advisors fall into a trap of trying to oblige the client. This can lead to several weaknesses in estate planning, which I’ll explain. Estate planners, unlike lawyers, cannot tell you what to do when…
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Here’s an interesting short video to find the answer. Watch IE.TV with Steve Krupicz, an actuarial consultant with Manulife Financial Corporation. He describes the new actuarial tables on life expectancy increasing by 1.7 years. It’s recorded by Investment Executive, at this link. Krupicz uses an example of…
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By meeting privately, Alex’s lawyer can also investigate if there has been any financial, emotional or physical abuse of the father. Alex may be reluctant to discuss such matters with a relative in the room. For the elderly, a visit to a lawyer can make a difference….
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Lawyers have a duty to assess Jeremy’s father’s competency to make a will. This is a legal and ethical responsibility that lawyers have, especially in dealing with the elderly. Lawyers must be prepared to testify in court, if necessary, to defend the wills they prepare. This means…
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Most lawyers will explain to Alex, Jeremy’s father, why his son must wait in reception. Alex’s lawyer must meet with Alex alone so all information remains confidential. Alex must be free to ask questions about his intentions and options without anyone else in the room. The lawyer…
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“It’s important.” Jeremy said to his boss. “I need to take the afternoon off to take my 83-year-old father to see a lawyer to make his will.” When you take a person to a lawyer’s office, you need to understand the legal protocol. Even if you are…
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Hot summer days bring back memories of the sun and the family swimming at the beach. And when your family packs up for a summer trip, their safety is always your concern. You can protect your family with this quick estate planning review in a matter of…
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Here are some tips if you are an executor. Minor squabbles can take hours of your time away from your office. Court battles can add years to estate work as executor. If you are a professional, this can actually take money from your pocket. You should be…
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