Sometimes, an estate’s debts and liabilities are greater than its assets. When that occurs, an estate trustee should consider assigning the estate into bankruptcy. This is for the protection of the estate trustee, as he or she may otherwise become personally liable for the estate’s unpaid debts and liabilities. If an estate is successfully assigned…
Swedish Death Cleaning is the Scandinavian practice of taking stock of your life and pairing down your possessions. Unlike other decluttering methods, the purpose of Swedish Death Cleaning is to manage your possessions and assets in a way to not burden your loved ones after your death. It asks you to consider your legacy and…
Many testators find it difficult to select an estate trustee for their estates when drafting a will. In some cases, a parent may worry that his or her children are already busy with work and with their own children, and do not want to burden them by naming them as estate trustee (“ET”) in the…
Not everyone is well suited or willing to act as an estate trustee – the job can be onerous and family dynamics can make it especially challenging. As a result, the person named as an estate trustee in a will, or who has the first right to act as estate trustee under the Estates Act,…
Overview In some cases, an estate trustee (“ET”) has been appointed, but needs to be replaced before the estate administration is complete. This can occur for a variety of reasons: the ET becomes unable or unwilling to continue acting for the estate, the ET is removed by the Court in the course of litigation, or…
Right to Indemnification of Legal Fees Section 23.1 of the Trustee Act, RSO 1990, c T.23 confirms that estate trustees are entitled to be indemnified for the legitimate costs of carrying out their duties. In other words, estate trustees should not have bear the costs of the estate administration. This includes an estate trustee’s legal…
Ontario law recognizes two forms of spousal relationships: marriage and common law partnerships. While certain statutes may modify or create their own definition of common law partnership, the definitions found at s.1 and s. 29 of the Family Law Act, RSO 1990, c F.3 are the standard. As a reminder, in Ontario, a common law…
As many people know, in addition to being expensive, litigation is often slow-moving and lengthy. In an estate with significant or contested issues, litigation can continue for several years. Even in estates without significant disputes, applying for a certificate of appointment and administering an estate can take many months. Further, once a certificate of appointment…
In the legal world, “testamentary intentions” refer to a person’s wishes for the administration of their estate and distribution of their assets after death. The last will and testament (often referred to simply as a “will”) is the document which sets out the testator’s (i.e. the person who signed the will) testamentary wishes. Problems arise…
The fiduciary relationship should not be entered into lightly. Examples of fiduciaries in estates and trusts law are estate trustees, attorneys, and guardians. The fiduciary owes legal duties to the beneficiary, for example an estate trustee must account for her management of estate assets. Failure to do so can lead to trouble for the estate…