Oakville Beaver, 27 Sep 2018, p. 16

The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

in si de ha lto n. co m O ak vi lle B ea ve r | T hu rs da y, S ep te m be r 27 ,2 01 8 | 16 BURLINGTON 200-481 John Street 905-336-9636 info@thegraceclinic.ca www.drgrace.ca CALL OR EMAIL NOW TO EXPERIENCE THE FUTURE OF BODY SCULPTING! BUILDS MUSCLE BURNS FAT NO SWEAT REQUIRED The World's First & Only Muscle Building Treatment REQUIREDREQUIRED Introducing EMSCULPT NOW AVAILABLE AT What to do when someone dies? When someone dies, there are many important steps to be taken while dealing with the loss of a loved one brings. Being appointed estate trustee under a Will can be daunting. Estate trustees are often not clear what their role is or what steps to take first. It is not a role to take lightly, and understanding the task ahead can make things more manageable. 1. What does an Estate Trustee do? Some of the first steps for an estate trustee include making funeral arrangements, obtaining the death certificate and reviewing the Will. It is important to secure the deceased's assets, notify and cancel compensation, pensions and benefits, credit cards, etc., and arrange for the care of any pets. A separate bank account should be established quickly, as well. The estate trustee then determines (often with assistance of an estates lawyer) whether an application for a Certificate of Appointment of Estate Trustee with a Will is required (and makes that application); pays the deceased's creditors; prepares final tax returns and pays final taxes; makes final distributions to beneficiaries; and accounts to the beneficiaries and to the Court if necessary. 2. What is "Probate" and is it always2. What is "Probate" and is it always needed? In Ontario, when people mention "probate," they are referring to an application for what is now called a "Certificate of Appointment of Estate Trustee with a Will" (where the deceased had a Will). This Certificate is a document issued by the court that proves the authority of the estate trustee to administer the provisions of the deceased's Will. Whether such an application is required depends upon the type and nature of the estate assets. A financial institution holding the deceased's assets may require the estate trustee to obtain a court-issued certificate of appointment of estate trustee before the assets are released. Where the deceased owned real estate, the real estate cannot generally be sold or transferred without a certificate. Estate Trustees have a fiduciary duty to the deceased's beneficiaries, which requires the estate trustee to administer the Will solely in the interest of the beneficiaries. Where an estate trustee fails to perform his or her duties, he or she can be held personally liable for breach of trust. It is a huge responsibility to administer a person's estate, and a good estates lawyer can be of invaluable assistance in simplifying the necessary steps. If you have any questions about estate administration, estate planning, wills or Powers of Attorney, contact Berry Gage LLP at bgfamilylaw.ca or call 905-338-7941. Advertorial OPEN TO THE COMMUNITY Left: World Champion pairs figure skaters Otto Jelinek and his sister/skating partner Maria Jelinek wave to the crowd as Master of Ceremonies Chris Mei of Oakville's The Weather Network and Mayor Rob Burton introduce the pair at the Trafalgar Park Community Centre's opening celebration Saturday. The Jelineks started skating at the old arena before going on to international fame. As part of the facility's redevelopment, the town retained the arena's distinctive wooden roof trusses as heritage feature and added an NHL-size ice surface and public space. Right Top: Members of the Kerr Street Singers perform from the players' bench. Right Bottom: Mayor Rob Burton drops the puck at a ceremonial face-off between Oakville Hornets Addie Kramer, 11 (left) and Oakville Rangers Tyler Copeland, 14. Graham Paine / Metroland COMMUNITY

Powered by / Alimenté par VITA Toolkit
Privacy Policy