Administering an estate many challenges for an Estate Trustee. An interesting issue was raised in zone v. Transamerica Whole Life Insurance, which deals with the question whether an insurance company can require that a certificate of appointment of the trustee or the estate may be obtained from us prior to the funding for the Advanced Estate by insurance.
In that decision, more than $ 2,000,000.00 in the whole life insurance proceeds was payable to the estate. Had the probating If necessary, the fees, which have led, had close to $ 80,000.00. In deciding this case, Mr. Justice Charbonneau of the Ontario Court (General Division) ruled that probating A was not required for the purposes of promoting the insurance proceeds to the estate. Rather, he was of the opinion that the evidence supplied by a unprobated Will was sufficient. Costs were also awarded to the property trustee. Mr. Justice Charbonneau decision was upheld by the Ontario Court of Appeal.
Despite this significant decision, insurance companies continue to slow in relation to the disbursement of the proceeds from a life without the probated Will. It is for this reason that it is probable that further cases will make their way to the courts. It is fascinating to see how the courts in these matters.
In that decision, more than $ 2,000,000.00 in the whole life insurance proceeds was payable to the estate. Had the probating If necessary, the fees, which have led, had close to $ 80,000.00. In deciding this case, Mr. Justice Charbonneau of the Ontario Court (General Division) ruled that probating A was not required for the purposes of promoting the insurance proceeds to the estate. Rather, he was of the opinion that the evidence supplied by a unprobated Will was sufficient. Costs were also awarded to the property trustee. Mr. Justice Charbonneau decision was upheld by the Ontario Court of Appeal.
Despite this significant decision, insurance companies continue to slow in relation to the disbursement of the proceeds from a life without the probated Will. It is for this reason that it is probable that further cases will make their way to the courts. It is fascinating to see how the courts in these matters.
