All posts in the ‘Executors & Trustees’ category

Testamentary Trusts and Why You May Need One

Many people have heard about the term “trusts”. Some people may incorrectly believe that trusts are only for wealthy individuals. In fact, trusts, and especially testamentary trusts, are an important estate planning tool for a wide range of individuals. A testamentary trust is a trust that is created under a Will wherein the executor/trustee is… View this post »

WESA Tips and Traps: Mandatory Hold Period

One of the changes made in B.C.’s Wills, Estates and Succession Act (WESA) (coming into effect 9 weeks from now, on March 31) relates to the mandatory period that an estate executor must wait before distributing assets. It looks innocuous, but the effects of this change may come as a surprise to some people when… View this post »

BCSC Provides Much Needed Guidance for Trust Proceedings

In Mayer v. Mayer, 2013 BCSC 1958, the BC Supreme Court ruled on the following issues: (1) the principles which govern an application by a trustee under s. 86 of the Trustee Act for leave to bring proceedings on behalf of a trust without the unanimous agreement of all of the trustees; (2) the ability… View this post »