Sentences with phrase «residuary estate beneficiaries»

Not exact matches

If there is no surviving joint subscriber, an RESP contract becomes part of the estate of a deceased subscriber and, if proper planning is not in place, the contract's value belongs to the residuary beneficiaries of the estate (for more on this, see «Quebec laws are different,» below).

So, the value of that interest will likely belong to the residuary beneficiaries of the estate unless the joint subscriber appoints a successor subscriber by will.

Accordingly the special costs at 75 % in favour of both the estate executors and the residuary beneficiary were awarded.

One further relevant factor was that when the executors had realised all the funds would not be used they had distributed funds to the residuary beneficiaries, and therefore there were only limited funds left in the estate.

The appellant's counsel also challenged the ability of the trial judge to order the appellant to pay the estate back for the expenses, arguing the residuary beneficiaries should have to sue the appellant, as the estate could be unjustly enriched by the expenditures.

Entitled person means a client or an entitled third party and entitled third party means a residuary beneficiary absolutely and immediately entitled to an inheritance where solicitors have charged the estate for their professional costs of acting in the administration of the estate and either the only personal representatives are solicitors: (a) whether or not acting in a professional capacity; or (b) acting jointly with partners or employees in a professional capacity.

Probably the commonest solution is for the will to provide for the children or other beneficiaries to be given «the maximum amount of cash which I can give without incurring any liability to Inheritance Tax» (or similar words), ie the NRB, and for the wife or partner to be given the residuary estate — probably including the testator's estate or interest in the matrimonial or quasi-matrimonial home.

As residuary beneficiaries under Harold's will, Judy and Glenn have an interest in proceedings that could result in the movement of assets from Harold's estate to Cherie's estate.

If proceedings brought by Cherie's litigation guardian against Harold's estate are successful, Judy and Glenn could stand to gain more as beneficiaries with one - quarter interest each in Cherie's newly increased estate, as opposed to residuary beneficiaries under Harold's will.