Passing Of Trustees’ and Executors’ Accounts

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Has a Contingent Beneficiary Asked for an Accounting?

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An estate trustee does not have an obligation to provide a contingent beneficiary with an accounting; nonetheless, some form of accounting is generally done at the request of a contingent beneficiary. If accounts are not provided, a contingent beneficiary may bring an application to compel an estate trustee to pass their accounts. This will be costly and may be what the contingent beneficiary is trying to avoid in requesting a….

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Estate Administration, Estate Litigation, Estate Planning, Executors, Passing Of Trustees’ and Executors’ Accounts, Wills

Passing of Accounts when the Grantor is Presumed Capable

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In Winkler v. Thompson, the court considered whether a niece who held a power of attorney for property for her uncle (the “Deceased”) but insisted that she never acted in a fiduciary capacity for the Deceased should have to pass her accounts. The Deceased was survived by his estranged spouse (“Ilse”) and his niece (“Crystal”). Crystal agreed to pass her accounts when requested to by Ilse. Crystal, who held a….

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Passing Of Trustees’ and Executors’ Accounts, Power of Attorney

Software Applications as Aids to the Estates Advisor

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Software Applications as Aids to the Estates Advisor For all of us advisors, there are likely certain types of software applications that we use for our day-to-day tasks: perhaps its Microsoft Outlook for sending emails, or a timekeeping software for recording dockets. And although these programs are leaps and bounds beyond what our advisor ancestors could have imagined for themselves a hundred years ago, as we head deeper into the….

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Estate Administration, Estate Administration and Probate Applications, Estate Planning, Executors, Fiduciary Professions, Passing Of Trustees’ and Executors’ Accounts, Trustee, Wills

Tips on Bringing a Passing of Accounts Application – Part 4

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Today’s blog will provide some points to consider when preparing or responding to a notice of objection to accounts (the “Notice of Objection”).  This is a continuation of my series of blogs related to bringing an application to pass accounts (the “Passing Application”).[1] How Does a Beneficiary Object? If a beneficiary wishes to object on a Passing Application, they need to prepare the prescribed Notice of Objection (Form 74.45).  It….

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Passing Of Trustees’ and Executors’ Accounts

300 Objections. 3 Week Hearing. $325,000 Costs Award.

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Those who practice in the world of estates know that emotions can run high. Estate planning and estate litigation involve relationships and, often, family. And relationships and family are complicated. It can sometimes be hard to be reasonable in the face of difficult emotions. But reasonableness should be a guiding principle for estate trustees and beneficiaries alike. If that warning is not heeded then parties to estate litigation must know….

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Costs, Estate Litigation, Executors, Passing Of Trustees’ and Executors’ Accounts

The Importance of Fiduciary Duties

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The Oxford Dictionary defines a fiduciary as a person in a position of trust, especially when it involves controlling money or property belonging to others. The law places particular emphasis on the trust relationship between a trustee and a third-party beneficiary. Among other duties, a fiduciary is required to: (1) act in the best interests of the beneficiary, (2) not put their own interests ahead of the beneficiary, and (3)….

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Elder Care, Elder Law, Fiduciary Professions, Guardianship, Liability, Passing Of Trustees’ and Executors’ Accounts, Power of Attorney, Powers Of Attorney and Guardianship Disputes, Trustee
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