Fraud and identity-theft mitigation steps after death
Where there is concern about fraudulent use of the deceased’s credit products or identity, commonly referenced preventative steps include: Procedural tool: Notice of Objection (Ontario) If there is concern that another person may seek appointment without notice, Ontario procedure permits the filing of a Notice of Objection, which operates as an obstacle to the issuance […]
Due diligence steps to assess assets and liabilities (without administering the estate)
A prospective estate trustee can (and often should) undertake rapid, targeted due diligence to determine whether the estate is solvent. The central risk-management principle is to gather information and preserve assets without taking actions that resemble administration (paying debts, selling/distributing property, or holding oneself out as trustee). Intermeddling (undertaking acts that are typically performed by […]
Insolvent Estates and “Intermeddling”: Due Diligence for Prospective Estate Trustees
Why an early solvency assessment matters A person considering whether to act as an estate trustee should form a reliable picture of the deceased’s assets and liabilities as early as possible. If the estate’s liabilities exceed its assets, the estate is insolvent. Insolvent estates carry elevated risk, including potential disputes about priority of payments and […]