Sentences with phrase «for estate trustees»

Eisen Law advocates for both estate trustees and beneficiaries in estate and trust litigation of any type, including:

Below are common pitfalls for estate trustees.

Estate debts include not only the debts of the deceased (for example, unpaid credit card or utility bills), but the costs of administering the estate (accounting fees and compensation for estate trustees).

Section 6 (1) of the Declarations of Death Act offers some protection for estate trustees and other beneficiaries in the event that the missing person is in fact found alive.

Notice Connect, a website for estate trustees in Canada to post legal notices to creditors upon someone's death, has been recognized by the Ontario Superior Court on July 7, in a court order, as satisfying requirements of the Trustee Act for the estate trustee's duty to advertise for creditors.

Marcia Green, an associate lawyer at Nelligan O'Brien Payne, breaks down the Estate Administration Tax Act and outlines the general duties and liabilities for an estate trustee.

When a beneficiary's grievances become so serious as to call for an estate trustee's removal and replacement, the matter may require judicial intervention and may need to be litigated.

Beneficiaries may express frustration about having to wait for an estate trustee to receive a tax clearance certificate or respond to other administrative issues, such as collecting assets.

It is only in unusual circumstances that a lawyer for an estate trustee owes a duty of care to a disappointed beneficiary, and these were not such circumstances.

On the issue of the property, Justice Healey ordered that the respondents vacate the property, and that a judgment for possession was to issue for the estate trustee.

The whole process is fairly complex, and an experienced estates lawyer can handle it for the Estate Trustee.

Not exact matches

Though it had invested $ 12 million in a number of businesses and real estate projects, several were themselves now defunct, and the bankruptcy trustee could not account for another $ 8 million out of the $ 20 million Dexior had raised.

If your house is underwater and you file bankruptcy, the Trustee won't seize the house and sell it because there is no equity for the estate.

The Trustee shall divide the trust estate into two shares as follows: One share equal to five percent (5 %) thereof shall be set aside for DISNEY FOUNDATION, and one share equal to ninety - five percent (95 %) thereof shall be set aside for CALIFORNIA INSTITUTE OF THE ARTS.

Our board of trustees wanted [Nyquist] to live in close proximity to campus; however, our campus is located in some of the most expensive real estate in Chicago, so the board made it possible for [him] to live across from [MBI] with an interest - only loan at the market rate of 4 percent.

Since last May, in a series of legal documents and Honolulu Star - Bulletin opinion pieces, the five trustees of the Kamehameha Schools / Bernice Pauahi Bishop Estate have come under attack for allegedly mismanaging money and creating an atmosphere of intimidation at the Kamehameha Schools, Hawaii's second - largest private school.

Fran is the Trustee for the Estate of Rachel Carson (SILENT SPRING) and represents the Estates of John Williams (STONER, BUTCHER»S CROSSING) and Esther Forbes (JOHNNY TREMAIN), among others.

I have not checked to see if Vantage or their sister companies have filed (they would presumably file in a federal district for their area in Great Barrington, Mass.) A bankruptcy attorney in that area could better answer your question about those publishing contracts as bankruptcy estate assets that a Trustee would «recall» (or «garner for the bankruptcy estate) under a preference rule and make a part of Vantage's «bankruptcy estate» for the benefit of creditors.

Trustees love to go after tax refunds because, unlike real estate and other assets, there isn't the overhead and effort associated with listing the property for sale.

But if one of the major reasons for establishing an irrevocable trust is to save federal and state income, estate, or generation - skipping transfer taxes, the identity of the trustee is a very tax - sensitive decision.

A Canadian T3 tax slip, or Statement of Trust Income Allocations and Designations, is prepared and issued by financial administrators and trustees to tell you and the Canada Revenue Agency (CRA) how much income you received from investment in mutual funds in non-registered accounts, from business income trusts or income from an estate for a given tax year.

The person responsible for making this happen is the bankruptcy trustee — a person appointed to administer the estate.

A deceased estate is technically not a trust while it is being administered, but is treated as a trust for tax purposes, with the executor or administrator of the estate taken to be the trustee.

We provide private, short - term California direct hard money loans for real estate investors for various real estate transactions such as fix and flip / rehab loans, trustee sale refinances, distressed property loans (REO loans, short sale loans, foreclosure loans), hard money business loans, real estate auctions that allow financing, private party transactions, estate, probate and trust loans, residential construction loans, cash out refinance loans, subprime loans, reverse mortgage refinance loans, bridge loans and other investment property loans.

If there is non-exempt equity in your house when you file for bankruptcy, you make a settlement payable to the estate (via the Trustee).

However, in order to get at the $ 25,000 in equity, the trustee will incur costs for an appraisal, real estate broker and closing fees.

In general, any tax refunds for any years prior to and including the year of bankruptcy are assets of the bankruptcy estate, and Canada Revenue Agency will send them directly to your trustee, even if you and your trustee have been discharged.

Your tax refund is an asset of your bankruptcy estate, so Canada Revenue Agency will send it directly to your trustee, so there will be nothing for you to include in your income.

However, for the 30,000 low income Canadians who file a bankruptcy each year, who have no assets to sell or whose wages are too require an income based payment, a trustee asks for fees up front in the form of a «fee guarantee» and are paid over and above any money collected in a debtor's estate realization such as an income tax refund.

You will be required to pay the trustee for the administration of your estate.

For immediate assistance, please contact your Estate Manager or Licensed Insolvency Trustee directly.

It enables you to control the distribution of your estate (and often is used to name a trustee for assets left to minor children), but it does not avoid probate.

Fiduciaries can be executors of wills and estates; receivers in bankruptcy; trustees or administrators of assets for underage or incompetent beneficiaries.

Fortunately, a trustee for the participant's estate stepped in and provided the necessary instructions to the plan provider.

She served for many years as the artist's studio manager and was a trustee of his estate.

In August 2004, it was announced that the City of Denver had been selected by the trustees for the Clyfford Still Estate to receive all paintings by the artist, a total of over 800 paintings on canvas and 1500 drawings and limited - edition fine - art prints, amounting to some 95 percent of Still's entire output.

Generally speaking, where a matter becomes contentious such that there is potential liability for the trustees, the courts have held that the trustee should pay their legal expenses personally with later indemnification by the estate, if appropriate.

This can be prohibitively costly for a person seeking to be appointed as Estate Trustee.

If you exercise a power of attorney for property or act as an estate trustee or solicitor with control of the estate assets, you should ensure to keep proper trust accounting records and reconcile the accounts monthly.

A940325, April 26, 1999, Mr. Justice Henderson declined to make any award for costs where the Public Trustee had asked for special costs payable from the estate, where a novel application had been made and presented to the court that was something akin to a «test case».

Lucy also advises on distressed business sales including pre-packs and has experience in the recovery of assets into insolvency estates by liquidators and trustees in bankruptcy and advises in relation to recovery procedures for lenders.

In Jones and The Public Trustee for the Province of British Columbia v. Humeston, Unreported, Kelowna Registry No. 3/1999, Madam Justice Beames dealt with an estate litigation matter arising out a motor vehicle accident.

Under s. 38 (3) of the Trustee Act, an action against an executor or administrator of an estate for a wrong committed by a deceased person must be brought within two years of the date of death.

The job of the estate trustee is an important one and the lack of appointment can create uncertainty and conflict for those left behind.

If the estate trustee is uncertain about how to divide the assets of the estate she should apply to court for help interpreting the will.

There is no requirement that an estate trustee take a fee for her work.

If an estate trustee fails to advertise for creditors, they can be held liable for the full amount of the deceased's outstanding debts.

The beneficiary can ask the estate trustee for information about the estate, including making sure that the estate trustee is doing his or her job properly.

«Estate trustee,» «executor,» and «personal representative» are all different names for the same role.

In order for someone with a lower priority to act as estate trustee, the person (s) with a higher priority must formally give up (or «renounce») their entitlement to act as estate trustee and consent to the other person acting.