Are you an Executor/Estate Trustee, or acting for an incapable person under a Power of Attorney? If so, consider the benefit of having a lawyer familiar and specialized in estates and power of attorney law as your advisor, not Google!
We at NIKA LAW LLP are here to provide you with an overview of your duties, obligations and importantly, your rights pursuant to Ontario law.
Mitigate against disputes by knowing the landscape of every situation from a legal standpoint before lawsuits arise.
ESTATE & POA ACCOUNTING
Did you know that as an Executor or Power of Attorney for property you have a legal duty to account?
The format and level of detail that is legally required for estate and power of attorney accounts is often misunderstood and largely underestimated. The best way to protect oneself against claims of misappropriation of funds, negligence and fraud from beneficiaries of an Estate is to maintain detailed, accurate, and comprehensive accounts.
Whether you are at the beginning of the process, in the middle or have been served with an application to pass your accounts formally, NIKA LAW can help. We have the software tools and expertise to help put accounts into proper form for court approval.
EXECUTOR & POA COMPENSATION
Compensation for acting as a POA is regulated. Executor compensation, however, is not. Fees taken by a POA from an incapable person’s assets, or by an Estate Trustee from an estate can result in highly contentious disputes.
We at NIKA LAW are here to advise executors, POAs and beneficiaries as to what amount of compensation may be defensible in the circumstances. Alternatively, if you are a beneficiary of an Estate who wishes to challenge the fees taken by an Estate Trustee or POA, we can perform a review of the accounts and file objections on your behalf.
Contact us to learn more and find out how we can help.