Sentences with phrase «of estate trustee»

In all cases, the person who wishes to act as estate trustee must apply to the court for a certificate of appointment of estate trustee without a will.

As a result, individuals should be warned — do not jump into the role of estate trustee without first investigating the circumstances of the estate.

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

Here are but some of the duties and responsibilities of the estate trustee.

This statutory system brings order and certainty to the process — unless no one wishes to step into the role of estate trustee.

It is also the job of the estate trustee to respond to any lawsuits — unlike corporations, estates are not legal entities.

The new will, tucked into a bible, was not found until after a Certificate of Appointment of Estate Trustee with a Will was issued under the 1999 will.

If there is a will, the document is called a Certificate of Estate Trustee with a Will.

The Original Decision The original action was brought by the children of the deceased against their mother's estate trustees, seeking the removal of the estate trustees,... Continued

Probate or Certificate of Apointment of Estate Trustee as its now known in Ontario is a court's legal confirmation of a Will as well as an estate trustee's authority.

Probate or Certificate of Apointment of Estate Trustee as its now known in Ontario is a court's legal confirmation of a Will as well as an estate trustee's authority.

If there are no objections, a Certificate of Estate Trustee without a Will is issued.

In this case, the Court of Appeal set out general rules regarding the ability of estate trustees to recover their legal fees from the estate:

Our estates lawyers act regularly on behalf of estate trustees facing a contested passing of accounts, providing clear and timely advice to address any issues as soon as they arise, and prevent problems from escalating.

Generally, the Court's discretion will be exercised in favour of the appointment of an Estate Trustee during Litigation where assets are required to be held, preserved or otherwise dealt with, and debts are to be paid.

Most financial institutions will require a notarial copy of the certificate of appointment of estate trustee before they will allow an estate trustee to access or receive funds.

At common law, the duties of the Estate Trustee in respect of the possession, custody and disposal of the remains of a Deceased have been identified as follows:

The Society of Estate Trustees and Practitioners (STEP) of Canada had a seminar in Toronto in September 2012 exploring these issues:

Based on the new rules, executors who apply for the «Certificate of Appointment of Estate Trustee With (or Without) a Will» must file an «Estate Information Return» within 90 calendar days after the Ontario government initially issues the certificate.

The original action was brought by the children of the deceased against their mother's estate trustees, seeking the removal of the estate trustees, an order requiring a passing of accounts and that the estate trustees repay amounts that the beneficiaries said were improperly taken out of the estate.

What used to be known as a «probate certificate» is now known as a «certificate of appointment of estate trustee with a will» (or «without a will,» as the case may be).

Accepting the role of estate trustee can be risky and the tasks involved can sometimes be complex.

From January 1, 2015, under the Estate Administration Tax Act, an Estate information Return must be filed within 90 day after a Certificate of Estate Trustee has been issued, by the Estate Trustee.

It is the job of the estate trustee to liquidate and consolidate the deceased's assets, ascertain and pay off all debts, and distribute the residue to the beneficiaries.

If an executor / estate trustee does not wish to apply for Letters Probate or a Certificate of Appointment of Estate Trustee, and the value of a specific amount is above the threshold of a given financial institution, the executor / estate trustee can apply for a Waiver of Probate Bond from an insurance company.

Under the Estate Administration Tax Act, 1998, tax is payable only when someone applies for a Certificate of Appointment of Estate Trustee, and then only on the assets that pass through the estate.

In most cases, the estate trustee will still have to apply to court to get a «certificate of appointment of estate trustee.»

This certificate ensures that the estate trustee's authority to administer the estate is recognized by third parties (for example, a certificate of appointment of estate trustee is usually needed before the estate trustee can sell land owned by the deceased).

Everyone who applies in Ontario for a Certificate of Appointment of Estate Trustee is required to file an... [more]

Everyone who applies in Ontario for a Certificate of Appointment of Estate Trustee is required to file an Estate Information Return within 90 calendar days after a Certificate of Appointment of Estate Trustee has been issued by the Court.

The legal term for «probate» is when a Certificate of Appointment of Estate Trustee is issued by the... Continued

However, when the value of the assets of the estate is high, or for certain types of assets, the estate trustee will have little choice but to apply to the Ontario Superior Court of Justice to obtain a Certificate of Appointment of Estate Trustee with a Will (formerly known as Letters Probate) or a Certificate of Appointment of Estate Trustee without a Will (formerly known as Letters of Administration), («Certificate»).

If there is no Will, provincial legislation governs the appointment of the estate trustee and the distribution of the proceeds of an estate.

Applying for a Certificate of Appointment of Estate Trustee can sometimes feel like a bit like a spy thriller.

This amount is sworn / affirmed to on the application for a certificate of appointment of estate trustee and listed under «Value of Assets of Estate».

The Ottawa case of Hawkins v Hawkins Estate provides a well articulated summary of the grounds for the removal of estate trustees.

In a recent case, the court had to determine if a notice of objection to the issuance of an appointment of an estate trustee could be filed after summary judgment had been granted, striking another objector's objections as invalid and a certificate of appointment had been issued to the estate trustees.

In order to apply this authority, executors must first obtain a probate certificate known as the «Certificate of Appointment of Estate Trustees With (or Without) a Will,» which is issued by the Ontario government.

Certificate of Appointment of Estate Trustee With a Will, or Probate as we so often say, is a process that involves confirming the validity of a Will.

If there is no will, a family member may fill the role of estate trustee, which is the legal title of the person we refer to as the executor.

Once the estate trustee has been issued a Certificate of Estate Trustee (commonly referred to as having the will probated), he or she then has the power to be able to make those inquiries.

To put it in the simplest terms, Probate is the Court Process by which a Will is authenticated, and through it an executor is issue a «Certificate of Appointment of Estate Trustee with a Will».

I direct that, subject to the filing of the appropriate documents with the Court, a Certificate of Appointment of Estate Trustee with a Will for the Will of [insert name of deceased] dated [insert date of will] be issued to the applicant (s).

It is essentially an approval process that checks to determine whether your Will is valid and confirms the appointment of the Estate Trustee that you have chosen.

We advise executors and trustees of their duties and responsibilities in the administration of an estate, attend to the preparation of the application for the Certificate of Appointment of Estate Trustee, assist with the transfer and disposition of estate assets, their distribution to beneficiaries and the preparation of accounts.

However, because the job of an estate trustee is often onerous, time consuming, and may even expose the estate trustee to personal liability, the legislature does not impose an obligation on any person to take on that role.

The requirement to consent to the appointment of estate trustee was recently confirmed in Potrzebowski v Potrzebowski.

Certificate of Appointment of Estate Trustee With a Will, or Probate as we so often say, is a process that involves confirming the validity of a Will.