Janice Specht was appointed as the executor for the estate of her cousin, a woman who lived modestly but was sitting on $12.5 million. Ms. Specht had never acted as an executor before, and so hired Mary Backsman, the lawyer who drafted the will, to assist her with the...
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executor
Do I have to act?
If you do a will or power of attorney, you can name anyone you want. They don’t have to act though. If you want everything to move smoothly, you should absolutely talk to your proposed executor or attorney to make sure that they are prepared to take over when the time...
The extreme importance of choosing the right executor
A recent case from the Ontario court of appeal indicates why it is so incredibly important to think of all the circumstances when choosing an executor for your estate. Antonio Di Michele was named executor of his mother’s will; the will left her house equally to...
iWill
In Ontario, a holograph will is a will that is done entirely in your own handwriting, and signed and dated at the end. However, it must be entirely in your own handwriting – one typed word can make the entire will invalid. In Australia, a will on an iPhone has been...
Where do you keep your estate plan?
Having a properly drafted will and powers of attorney is important. Making sure that your executor and/or beneficiaries know where they are? Almost equally important. Probably at least every other week, every lawyer who is a member of the Simcoe County Law Association...
Tax tips for executors
If you are the executor of an estate, you have very clear and strict rules for filing taxes for the deceased. First, you have to file their final return. This includes all income received up until the date of their death. If the date of death is before October 31, the...
Choose your own executor
I reference Gerry Beyer's Wills, Trusts & Estates Prof Blog a lot because he has so much good stuff there. I've had this one in the back of my mind for several months and finally have the chance to post it. Gerry wrote back in November about a checklist for...