Executors often want to buy assets belonging to an estate. Beneficiaries often suspect the executors of wrong doing. So I often am asked whether it’s legal for an executor to buy an asset from the estate. The short answer is maybe, possibly, but not usually. it would be prudent to for all the beneficiaries to obtain independent legal advice. Furthermore, the purchase price should be somewhat more then fair market value. With all these arrows in his/her quiver the trustee might be well advised to seek preapproval of the sale from the court by bringing an application for the opinion, advice and direction of the court under Rule 14.05(3)(d), and under section 60 of the Trustee Act, R.S.O. 1990, c. T.23.
For those who wish to stop the distribution of non probatable assets it is important to know that more might be required then simply blocking probate by filing a notice of objection.
The best step an estate trustee can take is to approach an experienced solicitor for assistance in obtaining probate. The process will likely go far quicker and more efficiently.
Probate in Ontario is called "a certificate of appointment of estate trustee with a will". This article addresses what steps have to be taken in Ontario to stop the process of getting a Will probated.
In this case, the children were fortunate that the judge found that the father’s residence was really held in trust for the children so it did not form part of the estate. Muna did not get much money. This time the children were lucky. Unfortunately, that is not always the case.
The Ontario Network for the Prevention of Elder abuse estimates that there may be as many as 150,000 victims of Elder Abuse in Ontario. Elder Abuse can take many forms. One common form of Elderly abuse is financial. The purpose behind this blog is to provide some information to people on the first steps they might consider when discovering the problem
The first step to challenging a Will in Ontario depends on whether probate been granted? Any person can go to the local court registrar and do a search to see if the court has granted a certificate of appointment which established the validity of the Will (Probate). If probate has not been granted then the person objecting to the will can file a form called “a Notice of Objection” with the court registrar. If probate has been granted then the person objecting to the will has to bring a motion for the return of the certificate of appointment.
Obtaining a copy of the Will is the first step. Whether the matter involves finding out if beneficiaries were treated fairly or if there are concerns relating to the validity of a will. The most frequently asked question by a concerned party is "how do I get a copy of the Will?" This article deals with the legal avenues open to parties to obtain a copy of a testamentary document in Ontario Canada.
In Canada, attempts to remove an executor are common. These applications are often commenced by disgruntled beneficiaries or frustrated co executors who believe that the person in charge of administering the estate is being unfair and or dishonest. The post reviews some relevant case law to examine under what circumstances an Ontario court decide to remove an executor.