Its never about the money; But it is

Is it really about who had the new roller skates in 1965?

Family torn apart by incapacity, ownership, living gift issues

When great wealth is at stake, families are time and again torn apart. In 2018, the Ontario Superior Court of Justice presided over a particularly vicious case involving three siblings, their elderly mother, a sophisticated game-playing spouse, and Mattamy Homes (Rubner v. Bistricer 2018 ONSC 1934).

POA means there are responsibilities.

https://www.canlii.org/en/on/onsc/doc/2018/2018onsc3038/2018onsc3038.html?searchUrlHash=AAAAAQAiUnVibmVyIHYuIEJpc3RyaWNlciAyMDE4IE9OU0MgMTkzNAAAAAAB&resultIndex=1

Who is your Executor? 

I will need to get an appraisal of the property done as of the date of death Ontario Canada

New legislation in Ontario Canada requires the Executor of an estate to provide as estimate of assets.

The estate administration tax is imposed on the value of all the property that belonged to the deceased at the time of his or her death less the actual value of any encumbrance on real property that is included in the property of the deceased. It is a requirement under the Estates Act that this value be disclosed when the estate representative files an Application for a Certificate of Appointment of Estate Trustee with the Superior Court of Justice. The estate administration tax must be paid as a deposit at this time.
http://www.fin.gov.on.ca/en/tax/eat/faq.html#Q2

If you have not submitted the Application the Estate Trustee could be held liable 

Anyone who applies for a Certificate of Appointment of Estate Trustee on or after January 1, 2015, must file an Estate Information Return with the Ministry of Finance. An Estate Information Return must be received by the Ministry of Finance within 90 calendar days after an estate certificate is issued by the courts. This requirement does not apply to anyone who applied for but was not issued a Certificate of Appointment of Estate Trustee.

FINES

Estate representatives who fail to file an Estate Information Return as required, or who make false or misleading statements on the return, may be found guilty of an offence and, on conviction, are liable to a fine of at least $1,000 and up to twice the tax payable by the estate, or imprisonment of not more than two years, or both.

We can help you with an evaluation of the home in the GTA. If this is not in my direct trading area I will help you find an agent fit.

David@davidpylyp.com

http://AgentLocatorToronto.com

Dad remarried; who shares your inheritance

Dad has been living on his own for a while and getting on in years.   He has met someone new. Whether he is divorced or a widower is academic. All the kids now have a new step Mother. [sharing their inheritance]

Claims of being a Gold Digger aside, your step Mom has spent lets say a decade looking after your Dad.  

The WILL that was drawn prior to the (RE) Marriage is rendered ineffective and must be redrafted. Your Step Mom has an interest in the Matrimonial Home.  [SHE] is entitled to an equalization of the equity in the home prior to the distribution of assets 

We know you would like to sell the Family Home as soon as practical; but there are some logistical issues that are immediately at hand.  Where will the NEW widow live?   What provisions has been made for her in the will.   While the New Step Mom, now widow, may no longer be asked for a Spousal Consent to the Sale she will however continue to have some possessory  rights.  Will there be a Dependence Relief Claim?

These are tough decisions for any Executor to make on the spur of the moment and in reality, it may be a minimum of 6 months or more before any decisions are made at all.  During this entire time, the estate is still making heat, hydro, water and insurance payments [ and possibly mortgage payments ]. 

With more than one Executor in the will have you made provision for dispute resolution between the executors?

All the more reason to call a Family Law Specialist who is wise with experience and an ASA REALTOR who is mindful of the resources that need to be introduced.

What legal minefields are you leaving behind with a home will kit? The argument will be what did [he] Dad mean by not addressing these issues.

How will your estate handle conflict?

So many details to consider, and who has the final say;

When testators are considering the persons that they wish to act as their executors and trustees, consideration should also be given as to the manner in which the persons chosen will make decisions in the event that a disagreement or deadlock emerges among them.
Unless the testator indicates otherwise, executors and trustees must make decisions unanimously.  If a testator wishes to appoint multiple executors or trustees, then consideration should be had as to how those persons will make decisions.  Providing for majority decision-making is a common technique that is used in order to address any disagreements that may arise among multiple executors or trustees, but other situations may require other decision-making procedures.
http://www.allaboutestates.ca/estate-planning/executortrustee-decision-making-planning-options/

You need to ask and appoint responsible people to deal with your issues and requests.

I recently learned that if appointed, my heirs, would be responsible to conclude your estate. An incredible and time consuming hardship for the unprepared.