When a client calls and makes this request, what do you say? Giving your client an executor checklist is of limited benefit. It is also a tactical mistake. What your client really needs is a strategy to help them. That’s why I wrote Executor Kung Fu: Master…
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I am going to talk to you about money. Money is what people fight over. Sure, they may use other excuses, but what everything boils down to is money or what it represents. My perspective, as a lawyer, is different. I do estate planning but also help…
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Key 7: Take Action Now John and Jillian, both in their 30s, were going on vacation. They were leaving behind Heather, their five-year old daughter, for the first time. Suddenly they realized that they had no will, guardian, or trust set up for their daughter. They needed…
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Key 4: Choose Executors to Handle Your Estate Imagine you have a daughter, Ann, an accountant, who lives far away on the west coast. You have another child, Bob, still living at home with you. Who should be the executor to guard your estate? Should it be…
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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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“Compensation for your time and trouble” is what the law calls your fee as estate executor. You can probably figure your time is productively worth $150 or $200 an hour back in the office. You need that to cover your overhead. Well, you won’t get paid by…
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If you are a professional advisor, you must say “No” to any client who wants you to be their executor. There are many reasons for this. I will cover them in the next couple of posts. You may not know what dangers lie ahead. You may not…
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You are the advisor to Janet and her family. She has trusted you for a number of years. No surprise to you she asks you to be the executor of her estate. How should you respond? Here are 3 things to consider: Does your relationship give you…
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Do you play any sports? Maybe golf, tennis, or soccer? Each sport is played with a different set of rules. Unless you understand the rules, you cannot win. Similarly, you must understand the rules for protecting your money and family. Unless you understand the fundamentals, you will…
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