Executors must not … Your Executor Duties Make You Responsible for Your Mistakes Handling an estate is complicated. Research proves that people don’t know what to do. Read my free report, Suddenly You’re an Ontario Executor. You will learn how to: · reduce the stress of being…
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I know that being a first-time executor or estate trustee can be stressful. But I know it doesn’t have to be so. I wrote a free report to help you weather any estate storm. You need more than a checklist to guide you. I break down your…
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I wrote a report to help you cope with the stress of being an Ontario executor. Being an executor is an honour, but it is also a job you may end up regretting. Most executors are inexperienced and learn on the job. You want to get advice…
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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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Some estate executors can’t handle the job. I continue to see expensive mistakes being made because the wrong executor was chosen. I’ve seen people’s last remains languish in morgues because there was no will and no executor. No one can authorize the funeral and burial. If you…
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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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Albert didn’t bother talking to a lawyer. He wasn’t sure if he was playing it safe. Albert was executor of his uncle’s small estate. He didn’t realize, however, the size of the estate’s liabilities. His uncle’s RRSPs were transferred directly to his designated beneficiaries. Unknown to Albert,…
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Question 6 Are there foreign or business assets? Wouldn’t it be nice to travel to Europe? What if the estate has assets in another province or country? Will you have time and ability to manage assets in other jurisdictions and with different legal requirements? Are you familiar…
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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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