Canadian Executor Guide by ERAssure
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ERAssure® is Canada’s exclusive provider of Executor Liability Insurance. Do you have protection yet? https://erassure.com/executor-guide/
More questions?
11/23/2022
Don't miss this free Disability and Estate Planning webinar with Kenneth C Pope tonight at 7pm.
Ken will cover important topics like:
🔹 Wills and Henson Trusts
🔹 ODSP and how it can affect estate planning
🔹 How all families with adult children with special needs can benefit from the improved caregiver tax credit
🔹 Disability Tax Credit recapturing
🔹 RDSPs and how they can grow to $700,000
🔹 Lifetime Benefit Trusts for RRIFs
🔹 Guardianships vs. Power of Attorney
Register for free:
https://us02web.zoom.us/webinar/register/WN_tK2k9MnNSEGZVUyZRxi3SQ
Welcome! You are invited to join a webinar: Disability and Estate Planning Annual Updates Webinar. After registering, you will receive a confirmation email about joining the webinar. It’s that time of year again. Join us as Ken outlines important information including recent and upcoming changes regarding special needs & disability estate planning. • Wills and Henson Trusts • ODSP and how it can affect estate planning. • How all families with adult children with special ...
"2.95 million Canadians have out-of-date wills." - LegalWills.ca
Are you one of them? 😳
November is Make a Will Month, and it's also a great time to make updates too.
If you haven't had the chance to put a Will together, download our free Will Preparation Guide from our resource centre:
https://erassure.com/resources/
Why would someone want to sue an Executor?
If a beneficiary believes you've made a mistake handling their inheritance, for example, they could sue you for the amount the estate lost as a result of your "negligence".
Executor negligence can come in many forms, but these are the most common reasons for estate litigation provided by our friends at the Canadian Bar Association:
🔹 Improperly interpreting or not properly following the terms of the Will
🔹 Paying the wrong amounts to the wrong parties
🔹 Improper disbursements for funeral and creditor claims
🔹 Improperly preferring one creditor over another
🔹 Omitting an heir
🔹 Not prudently investing the estate assets
🔹 Breach of the even hand rule (aka not treating all beneficiaries equally)
🔹 Self-dealing
🔹 Delay in payment to beneficiaries (this is a common complaint)
🔹 Not properly protecting estate assets, for example not changing locks or purchasing fire insurance or keeping a property in repair
🔹 Not selling assets in a timely way
🔹 Improvident sales of assets
🔹 Failing to invest excess cash
🔹 Unreasonably prosecuting or defending litigation on behalf of the Estate
🔹 Not prosecuting a claim against a 3rd party in time
🔹 Improper delegation of duties
🔹 Improvident settlements
🔹 Failure to keep accurate records of the administration
As you can see, there are many reasons a third-party might disagree with the way an Executor has managed the estate.
That's why it's crucial to not only protect yourself with Executor Insurance, but also by taking extensive records of all communications, transactions, and decisions related to the estate administration.
Apply for Executor Liability Insurance today:
https://erassure.com/products/executor-liability-insurance/
09/21/2022
"Even If I can't cure, I can still care." - Sally P. Karioth RN, PhD
If you are interested in volunteering, donating, or fundraising for the Alzheimer Society of Canada, please visit their website:
https://alzheimer.ca/en/take-action
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