Tag: estate administration

13 May

Accounting – Hull on Estate and Succession Planning #112

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Listen to Accounting

This week on Hull on Estate and Succession Planning, Ian and Suzana discuss how to prepare for review by the beneficiaries of the estate by keeping all accounts in order.

To open this week’s show, they remind listeners that they did this week’s episode of Hull on Estates (#110). They also extend their congratulations to Terry Fallis for winning the Stephen Leacock Medal for his book, The Best Laid Plans.

If you have any comments that you would like to share, send us an email at hullandhull@gmail.com or leave us a message on our comment line: 206-457-1985. You can also find our blog at hullandhull.com.

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03 Mar

The Sur(real) estate

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The orderly administration of a parent’s estate will often revolve around the family home.  All too often, the children of the deceased  parent will not see eye to eye on the best way to liquidate the home or whether the home should be liquidated at all.  The situation is often compounded when one of the children resided with the parent and may have developed an enhanced emotional attachment to the home. If the home is sold, it may become a challenge to empty out the contents in a timely fashion.

Such difficulties have led some commentators to espouse the viewpoint that a family member ought not to be an executor of an estate in which the family home is the most significant estate asset.  To my mind, such recommendation is a bit extreme:  each family is different and while there is no certainty as to how the children will interact with one another on the death of the surviving parent, it is worth noting that the vast majority of estate administrations are not referred to litigation counsel.

As noted in a recent article in the New York Times, the difficulties that may arise in the sale of the family home are often best resolved through the advice of a good listing agent and effective communication between the executor and his or her siblings. Such issues that may arise include: the appropriate list price, how to show the home to attract the most optimum sale price, and what upgrades (if any) to engage in and whether to use estate assets for this purpose.

David M. Smith

 

 

29 Jan

Initial Estate Meetings – Hull on Estate and Succession Planning #97

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Listen to Initial Estate Meetings

This week on Hull on Estate and Succession Planning, Ian and Suzana discuss how important it is to be prepared for an initial meeting with an estate lawyer.

They have also been listening to and reading David Maister’s new (audio)book Strategy and the Fat Smoker and continue their conversation on The Tipping Point by Malcolm Gladwell.

Comments? Send us an email at hullandhull@gmail.com, call us on the comment line at 206-457-1985, or leave us a comment on the Hull on Estate and Succession Planning blog.

 

08 Jan

Estate Administration – Hull on Estate and Succession Planning Podcast #94

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Listen to Estate Administration

This week on Hull on Estate and Succession Planning, Ian and Suzana continue their discussion on what to expect in the early stages of estate administration.

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25 Dec

Executor Obligations – Hull on Estate and Succession Planning Podcast #92

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Listen to Executor Obligations

This week on Hull on Estate and Succession Planning, Ian and Suzana discuss what to anticipate as an executor and how to ensure that you are well prepared for your duties.

01 May

A Dutch Treat; Conflict of Laws and Estate Administration – Which Law Governs? – Hull on Estates Podcast #57

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Listen to "A Dutch Treat; Conflict of Laws and Estate Administration – Which Law Governs?"

Read the transcribed version of "A Dutch Treat; Conflict of Laws and Estate Administration"

During Hull on Estates Episode #57, Justin de Vries and Megan Connolly discuss an ongoing client matter which has come out of the Netherlands.  This matter raises issues of conflict of laws, the Divorce Act, the Succession Law Reform Act, R.S.O. 1990, c. S.26, and dependant support claims.

For more information on the conflict of laws, as it relates to this case, please see:

  • McCallum v. Ryan Estate, [2002] O.J. No. 1088 (SCJ)
  • Re Montizamber Estate, [1973] O.J. No. 1035 (SCJ)
  • Smallman v. Smallman Estate, [1991] O.J. No. 1718 (OJC – Gen. Div.).
20 Apr

Joint and Several Liability of Trustees – Hull on Estates Episode #55

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Listen to "Joint and Several Liability of Trustees"

During Hull on Estates Episode #55, Sean Graham and Paul Trudelle discuss joint and several liability of trustees with respect to the administration of an estate. They  focus on avoiding liability when there are two or more estate trustees.

Paul and Sean examine this estate topic with respect to the case of Fales v. Canada Permanent Trust Co. and  Cooper (No. 2) Re.

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