Tag: Hull on Estate and Succession Planning
This week on Hull on Estates Paul Trudelle and Sydney Osmar discuss moral claims for relief under BC’s Wills, Estates and Succession Act.
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When dealing with the administration of an estate, there is the possibility that a bequest will be left to a minor, resulting in the need for it to be held in trust until the minor reaches the age of majority. It is also possible to have a situation where the executor named in a will is a minor at the date of death of the testator, pursuant to section 26 of the Estates Act. This will result in a Certificate of Appointment of Estate Trustee being issued to the guardian of the named executor, until he or she turns 18. The guardian acting as executor is called durante minore aetate, which translates to “during the minority”.
Pursuant to section 26 of the Estates Act:
(1) Where a minor is sole executor, administration with the will annexed shall be granted to the guardian of the minor or to such other person as the court thinks fit, until the minor has attained the full age of eighteen years, at which time, and not before, probate of the will may be granted to the minor
(2) The person to whom such administration is granted has the same powers as an administrator has by virtue of an administration granted to an administrator during minority of the next of kin.
The powers of durante minore aetate to act in the place of a minor are not limited. As per Re Cope, (1880), 16 Ch. D. 49 (Eng Ch Div) at 52:
The limit to his administration is no doubt the minority of the person, but there is no other limit. He is an ordinary administrator: he is appointed for the very purpose of getting in the estate, paying the debts, and selling the estate in the usual way; and the property vests in him.
In Monsell v Armstrong, (1872) LR 14 Eq 423 at 426, the court held there is “no distinction between a common administrator durante minore aetate as regards the exercise of a power of sale.” Along with the power of sale, it seems too that an administrator for the use and benefit of a minor may also assent to a legacy and may be sued for the debts of the deceased.
An application for a certificate of appointment for the use and benefit of a minor should be in Form 74.4, 74.4.1, 74.5, or 74.5.1 (forms can be found here) and should include an explanation stating that the executor named in the will is not the applicant due to the minority of the named executor. Once the application is filed, the matter will be referred to a judge. If the judge orders a certificate of appointment of estate trustee with a will, it will include the phrase “Right of (name of minor executor) to be appointed estate trustee on attaining 18 years of age is reserved.”
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This week on Hull on Estates and Succession Planning, Ian Hull and Suzana Popovic-Montag discuss a recent presentation they made for the Law Society of Upper Canada. The topic of discussion was how to prepare for an audit on an estate. Additionally, they discuss the matter of compensation.
This week on Hull on Estates and Succession Planning, Ian Hull and Suzana Popovic-Montag discuss "LinkedIn and Blogs for Lawyers", a book by Adrian Dayton and Amy Knabb. Additionally, Ian and Suzana address Passing of Accounts and the importance of Fiduciary Accounts.
This week on Hull on Estates and Succession Planning, Ian Hull and Suzana Popovic-Montag add to the Hull & Hull recommended reading list with their suggested read – "Smart Thinking" by Art Markman. A great book that uses problem Solving as an innovative way to get things achieved.
Ian and Suzana also share some exciting changes that have recently been made at Hull & Hull LLP. More specifically, they discuss their new "Synergy" rooms and explain how they have been applied, as well as discuss how they will improve your estate planning needs.
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This week on Hull on Estates and Succession Planning, Ian Hull and Suzana Popovic-Montag give an overview of the book "With the Stroke of a Pen, Claim Your Life" by Jane Blaufus. This book is based on Jane’s personal experience with the loss of her husband. In this episode, Ian and Suzana examine the "Courageous Questions" asked by Jane, questions they feel are associated with the day to day issues of estate planning.
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This week on Hull on Estates and Succession Planning, Ian Hull and Suzana Popovic-Montag ring in the New Year with an update to our Reading List. The book of focus is written by Dr. Steven R. Covey called "The 3rd Alternative," a reading that discusses various aspects of problem solving. More specifically, Ian and Suzana apply the lessons of this book to issues in estate planning, those who mediate and those who litigate. More simply, he asks the question, what is the 3rd alternative?
This week on Hull on Estates and Succession Planning, Ian Hull asks the question – What should one do with their estate plan in 2012? More specifically, he discusses Will basics and Will basics planning. If you have any questions or comments, please visit our blog at estatelaw.hullandhull.com or email your questions to firstname.lastname@example.org
This week on Hull on Estates and Succession Planning, Ian Hull and Suzana Popovic-Montag add to our Hull & Hull LLP recommending reading list with the book "Cross-Border Family Mediation". This book touches on cross border family mediation in regards to custody and access issues. Ian and Suzana also discuss holograph wills and the issues that surround them, particularly in Canada, and canvas where they may occur.
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This week on Hull on Estates and Succession Planning, Ian Hull gives mention to "Movember" – A movement to raise money and awareness for men’s health, specifically prostate cancer. If you would like to make a contribution, please visit ca.movember.com
In this podcast, Ian also discusses an interesting development from the accounting firm Ernst and Young, who have developed a new service with a focused approach to estates & trusts. If you have any questions or comments, please send us an email at firstname.lastname@example.org or leave a comment on our blog at estatelaw.hullandhull.com