What happens after we die?

Anyone who’s ever been named the executor or estate trustee for a friend or loved one knows what a confusing world it can be. Even with my legal training, when I found myself in the role, it was almost overwhelming simply trying to figure out where to start. Getting started was important, because finding something productive and helpful to do eased the feelings of helplessness at the loss. With that in mind, my associate, Adam Veroni, has written a helpful guide to help estate trustees get the process started:

A Quick Guide for the Personal Representative of a Deceased

The estate trustee generally has the following duties:

  • Make funeral arrangements
  • Ascertain the beneficiaries listed under the will or under law
  • Locate and maintain assets and prepare an inventory of the estate
  • Determine all debts owed by or to the estate
  • Apply for the Certificate of Estate Trustee (the application varies depending on whether or not there is a will)
  • Prepare the information returns required for the payment of Estate Administration Tax
  • Settle claims by and for the estate
  • Maintain or close accounts for the estate
  • File tax returns and pay any taxes owing
  • Pay all debts and liabilities out of the estate
  • Distribute and pay assets to the beneficiaries
  • Prepare and finalize all estate accounting and records

The above checklist is for general reference. Different steps may be required depending on whether the deceased left a will.

Read the full article here:
https://adamveronilawblog.wordpress.com/2018/02/28/a-quick-guide-for-the-personal-representative-of-a-deceased/

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Estates Blog: Promises made, but not put in the will

Last summer I hired an associate, Adam Veroni, to add estate planning, wills, and trusts to the services offered by Intrepid Law. This is a nice complement to the business succession planning expertise we have, which can help to ease the transition of your business to the next generation of leaders. Adam has recently started writing on common issues in estates law, and will be focusing on estate planning issues for farms, and persons with disabled children to boot. I’ll be posting links to his articles here as they become available.

His most recent blog:

Promises Made Outside of a Last Will and Testament

Verbal promises made by a deceased prior to his or her death in respect of the inheritance of property, are not testamentary dispositions and the estate trustee is not bound to abide by such promises when distributing the assets of the deceased’s estate. The estate trustee appointed under the will has the responsibility to distribute the estate according directions contained in the will, not according to promises made outside of it.

However, there are limited circumstances where the courts will intervene under their equitable jurisdiction to enforce promises in the name of fairness.

Read the full article here:

https://adamveronilawblog.wordpress.com/2017/09/22/promises-made-outside-of-a-last-will-and-testament/

Estates Blog: If you don’t have a will, what can your executor actually do?

Last summer I hired an associate, Adam Veroni, to add estate planning, wills, and trusts to the services offered by Intrepid Law. This is a nice complement to the business succession planning expertise we have, which can help to ease the transition of your business to the next generation of leaders. Adam has recently started writing on common issues in estates law, and will be focusing on estate planning issues for farms, and persons with disabled children to boot. I’ll be posting links to his articles here as they become available.

His first blog:

Powers of an Estate Trustee without a Will

The decision to create a will is often neglected or people may ultimately decide to leave their estate to be distributed according to the law. In deciding whether or not to make a will, one should consider the powers of the estate trustee with or without a will, and whether it would be in the best interest of the estate to have well defined trustee powers to deal with estate assets.

Read the full article here:

https://adamveronilawblog.wordpress.com/2017/08/11/first-blog-post/