Trusted Legal Advisors to Executors and Trustees
For many individuals, dealing with the necessary logistics following the incapacity or death of a loved one can be daunting and overwhelming.
If you have been appointed an executor or trustee, there are a number of legal issues which must be addressed to ensure the interests of the estate are protected, the responsibilities to beneficiaries are not violated, and potential risks and liabilities are managed.
Whether you are an executor or a trustee, the team of knowledgeable and compassionate lawyers at Eisen Law can provide you with the necessary guidance to help you navigate your rights and responsibilities, help you make informed decisions, protect all relevant parties, and avoid significant risk and liability. As a boutique estate litigation firm, we have many years of focused, specialized experience providing advice and guidance to individuals in these roles and have assisted thousands of individuals with excellent results.
Have you been appointed an Executor or a Trustee?
An executor is an individual appointed in a will to carry out the stipulations and directions in that document.
A trustee is an individual who has been appointed to hold the property in a trust for the benefit of any beneficiaries of that trust.
Most often, individuals who have been named an executor or a trustee and tasked with administering the estate of a loved one have had no previous experience functioning in this capacity. If you have been appointed in one of these roles, you may not necessarily know or understand what your duties and obligations are, what steps should be taken, and which obligations or steps are mandatory and which are optional. Consequently, you may not be aware of potential significant liability that exists for breach of your duties to beneficiaries.
Importantly, an executor-beneficiary or trustee-trust relationship creates a fiduciary duty by the trustee or executor to the beneficiary or trust. This duty means that the conduct and decisions made by a trustee or executor are subject to exceptionally high standards under the law. Fiduciaries owe a duty of care to the trust or beneficiaries, and must always act in good faith and with integrity, and make decisions that are in the best interest of the beneficiaries or trust. A breach of your fiduciary duty can have extremely serious and significant legal and financial implications.
At Eisen Law, we encourage you to consult with one of our experienced lawyers as soon as possible upon being named or appointed as a trustee or executor. We are a boutique firm focusing exclusively on estate and trust litigation, which includes providing guidance to executors and trustees. Our lawyers have many years of collective experience advising clients in these very specialized areas of law. We can assist in:
- Helping you understand the extent of your duties and obligations as well as any liabilities that may attract for violation of same;
- Fulfilling your duties and obligations;
- Interpreting the will or trust document;
- Holding, administering, and distributing the estate;
- Determining if and when to seek a court’s advice and direction;
- Proactively addressing any issues that may arise; and
- All other aspects in the process of estate administration.
Contact the Toronto Estate Lawyers at Eisen Law for Assistance with Fulfilling your Duties as an Executor or Trustee
At Eisen Law, we can work with you on a one-time basis and help you with discrete issues involved in administering a will or estate, or we can assist you with more complicated matters and provide ongoing advice. We offer free initial consultations and will do our best to ensure you can easily access the legal advice that you need. Call us at 416-591-9997 or contact us online.