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Estate administration: Dealing with an insolvent estate

June 25, 2019/in Estate Administration & Probate /by gartonandharris

Being named as a beneficiary of some estates may not exactly be a windfall. During the estate administration process it may be found that some British Columbia estates are actually insolvent. In other words, they have more debts associated with them than assets and that can pose problems for beneficiaries and executors who should be aware of what to do and what not to do in such cases.

During the administration of an insolvent estate, an executor has to be very mindful about which expenses need to be paid out of the estate. Insolvent estates can be nightmares for executors, so before agreeing to become an executor of an estate, an individual shouldn’t shy away from asking a testator some pointed questions before agreeing to the task. Once an executor begins accessing information regarding a testator’s account, he or she must accept the challenge of administering the estate. In other words, he or she can no longer say no to the job.

An executor has more decisions to make with an insolvent estate. When it comes to creditors associated with the estate, an executor needs to be more mindful regarding the ranking of debts and the priority in which they need to be paid. It can be extremely stressful for an executor.

Estate administration of an insolvent estate likely needs the help of an experienced British Columbia lawyer. An executor in such a case may need extra help and may have many more questions regarding what likely will be a more complex task. It may be best to get the guidance of a lawyer before moving forward in any estate administration duties in this regard.  

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What British Columbians should do when left out of wills

June 12, 2019/in Wills /by gartonandharris

There may be nothing more disturbing or emotionally upsetting to someone than being left out of a loved one’s will, other than the loved one’s passing. For British Columbia residents who believe they’ve somehow been slighted in regard to wills, there is some recourse, but time is of the essence. In many cases, anyone who contests a will must show that there was either something wrong with the testator’s mental capacity or that the testator was coerced when writing the will or that the will is altogether fraudulent.

Only family members have the right to contest a will and it doesn’t always come without cost. If a testator talked with a loved one about being included in a will and was then left out, that person must try to write down as much as possible he or she can remember from the conversation(s) and try to estimate, based on the value of the estate, how much he or she believes is owed. The person may wish to consult with a lawyer to see what his or her options might be.

The first step in contesting a will is to get a copy of the most current will of the testator. Failing all else, anyone can obtain a copy from the probate court. All wills in British Columbia are on public record.

A British Columbia lawyer experienced in dealing with wills, may be able to advise a client on whether or not a will is worth contesting. After reviewing a client’s reasons, a lawyer may be able to advise a client whether or not it is worth proceeding. It may be difficult to contest a will, but not impossible. 

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