Seeking Legal Recourse The court will have a hearing where the parties involved can tell their side of the story. Afterwards, the court can remove the executor and appoint another one if they find just cause.
Does an executor have to follow a will in Ontario?
Executors have a fiduciary duty to hold the estate for the beneficiaries. Some of the duties of the executor include avoiding conflicts of interest, fair and equal treatment of the beneficiaries and the proper and timely administration of the estate.
What can you do if executor does not follow will?
If the executor refuses to correct their approach, or is simply not willing to engage in any communication to deal with the matter, it’s possible to make an application to court to remove them.
Does an executor have to show accounting to beneficiaries in Ontario?
Beneficiaries are entitled to a proper accounting of the estate. The executor must provide proper accounting, in Court format, to beneficiaries in a timely manner.
Can an executor ignore a will?
Can an executor ignore a will, though? Absolutely not. If the executor tries to withhold bequests, or if they act against the interests of the beneficiaries – for example, by selling property at an unreasonably low price – they can be taken to court.
How long does an executor have to settle an estate in Ontario?
one year
After probate is granted it will take upto one year for an executor to settle an estate in ontario. The time for grant of probate depends on how busy is the court registry, if there are issues with your application or if any motions or objections are filed with the court.
Can an executor withhold money from a beneficiary Ontario?
Executors cannot do things which are contrary to the benefit of heirs, beneficiaries, and the estate. This means if you suspect an executor is withholding your inheritance distributions, you would have the right to sue the estate, or litigate to suspend, remove and replace the executor.
Can you override an executor?
You can make an application to remove an Executor either before a Grant of Probate has been issued or after. Generally, if such an application is made after the issue of a Grant of Probate, it would be made to the High Court under Section 50 of the Administration of Justice Act 1985.
Can an executor of a will be prosecuted?
Yes, as an executor you can be sued.
How do I make sure an executor is honest?
An Executor who finds that the beneficiaries are suspicious of him, despite no wrongdoing, is free to voluntarily file a formal accounting to prove that the books are in order and the proposed distributions are correct. Either way, a formal accounting is a unique, self-contained action in the chancery court.
What does an executor have to disclose to beneficiaries in Ontario?
Executors have a duty to account to the beneficiaries. This means, ‘provide an accounting of all of the assets of the estate, all income (and losses of the estate), all expenses of the estate, and all distributions of the estate. This duty is supervised by the Courts via the process of ‘passing of accounts’.
What percentage does an executor get paid in Ontario?
5 percent
In Ontario, Executor fees are usually calculated as 2.5% of all assets gathered, plus 2.5% of all assets disbursed to beneficiaries. In other words about 5 percent of the estate.
Should executors keep beneficiaries informed?
While it is often beneficial to communicate with beneficiaries regarding the estate administration, executors are not required to comply with every single request for information. Beneficiaries are often surprised to discover that in reality they have a right to very little information regarding an estate.
What happens if the executor of a will lies?
If you suspect an executor is acting dishonestly, seek legal advice from a Specialist in Succession Law as soon as possible. The sooner the situation can be remedied, the less likely the financial losses will continue. Ultimately, it’s important to always seek legal advice regarding the administration of an estate.
Can an executor withhold an inheritance?
The simple answer is no. The executor has the authority to hold the assets for a certain time for safe-keeping before distributing it. But he cannot withhold assets for any selfish benefit. In a few rare situations, the fee of an executor exceeds the value of the estate in which case he will have to take everything.
Can you contest a will if you are an executor?
Can an executor contest a will? Yes, if you are named as an executor you can contest the will. However, if this situation was to arise, it is likely you would be required to give up your role as executor. The reason for this is that an executor must administer the deceased’s estate by following the will.
How much does an estate have to be worth to go to probate in Ontario?
You can apply for a Small Estate Certificate if the estate is valued at up to $150,000. If the estate is valued at more than $150,000, you can apply for a Certificate of Appointment of Estate Trustee. Learn more about how to apply for probate of a Small Estate.
Can an executor sell property of the estate without all beneficiaries approving Ontario?
The executor can sell property without getting all of the beneficiaries to approve. However, notice will be sent to all the beneficiaries so that they know of the sale but they don’t have to approve of the sale.
Who is entitled to see a copy of a will in Ontario?
Who is Entitled to See a Will? Before a testator passes away, he or she is generally not required to share the contents of his or her Will with anyone. However, once the testator dies, any person listed in the Will as an executor or beneficiary is entitled to see it.
Can beneficiaries override executors?
Can beneficiaries override an executor? No, beneficiaries cannot override an executor unless the executor breaches fails to follow the will and breaches their fiduciary duty.
How long does an executor have to distribute assets in Canada?
one year
For a simple estate, the executor is granted one year from the date of death or one year from probate (more on that later) to distribute assets such as property, gifts, and cash to beneficiaries.