6 Tips for Estate Executors for Easy Administration
Estate administration can be challenging for named executors, these tips can help ensure that the process goes more smoothly.
When are Beneficiaries Entitled to Receive Interest? The Rule of Convenience
Executors and beneficiaries are often aware of the executor’s year – a common law principle stating that an executor has a year from the testator’s death to finish administering the estate and distribute its assets. During the executor’s year, beneficiaries…
Choosing an Executor: Should You Appoint a Professional?
In some circumstances choosing a professional to be an executor makes the most sense. This can be because the estate is complex, because of family politics, or because there simply isn't anybody suitable available to take on the role.
When does the Government Inherit an Estate (the estate escheats)?
It is a surprisingly common misconception that if you don't write a will, the government will inherit your estate. The government rarely inherits an estate, and this only happens when there are absolutely no available beneficiaries or relatives of the…
Constructive Trust: Using Trusts to Remedy Estate Plans
Trust accounts are a common and useful estate planning tool. Trusts are accounts where a third party holds an asset for the specific use of a beneficiary. Typically, the beneficiary is only able to withdraw funds (or other property) from…
Removal of a Badly Behaving Executor in BC
As a beneficiary of a will, it can be frustrating to sit helplessly waiting while the will’s executor fails to administer the estate as expected. Unfortunately, executors sometimes cause intentional delays, are incompetent in their administration, or even abuse their…
Estate Beneficiary Rights: Forcing the Executor to Act
The executor of a will has a handful of responsibilities when administering an estate – including accounting for all estate assets, debts, and money exchanges coming into and out of the estate. Once the executor finishes the administration process and…
What is a Fiduciary?
Fiduciaries have obligations to beneficiaries and a breach of those obligations can result in being held responsible for the losses incurred. A breach may also result in the fiduciary being removed as a trustee or executor.
Unsigned Will Found Valid by BC Courts
For a will to be legally valid in British Columbia, it must meet three main requirements. The writer must put it in writing, sign it at the end, and make this signature in the presence of two or more witnesses.…
Executor’s Fees: What You Should Know
In British Columbia, settled law entitles estate executors to remuneration for their work in administering an estate. In fact, this was restated by the Supreme Court of Canada in Cowper-Smith v Morgan, a case argued and won by League and…