Are you the executor of an estate that owns real estate in Toronto? Any real estate in Toronto is likely worth a million dollars or more. So this question should interest you. Here is my answer. The one thing every executor of a million-dollar estate must do…
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Have you put off making your will? Is it because you can’t decide who your executor should be? I can solve that issue for you. You need to make a will to name your estate executor. Don’t stop reading because you have not made your will yet….
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Objectors filed 300 objections to expenses in an executor’s accounting. The court dismissed all, except five, objections. The objectors alleged executor fraud. Their hostility towards the executor cost them. The court ordered the objectors to pay $35,000 toward the executor’s costs. This was a double whammy. The…
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Question 5 Is there real estate? Real estate is always a headache. Executors must keep real estate insured for fire and valuable contents. You must secure and inspect property. Can you change the locks? Can you access estate funds to pay insurance premiums? What if there is…
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Question 4 Do You Have a Conflict of Interest? Are you an estate executor and also an estate beneficiary? This is not, generally, a conflict of interest. But consider the circumstances below. How many different hats do you wear? One hat may be as executor wanting to…
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Question 3 Will there be lawsuits? Are you an Ontario estate executor? You must know this. How people interpret wills can lead to disagreements which are inevitable. Even in the best families, people don’t always agree. Disagreements can cause people to hire lawyers. You may be involved…
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Question 1 Is the Estate Broke? Most executors find being an executor is more work than they expected. No one ever warned them before they got involved. People wished they knew how much trouble being an executor was. Before you act, here’s what to ask first: Q…
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Being an executor may be an honour but it is also a job. It is a job you are not legally obligated to accept. Ask these questions about your risks. If you’re worried, seek legal advice about your options. Estate advice may reassure you or you may…
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That’s when Ontario executors call me for help. You may need help to resolve these Ontario estate issues involving: real estate owned by estates court disputes over wills accounting disputes claims against executors for alleged misconduct co-executor disputes income tax clearance issues informal estate distributions family law…
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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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