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Administration Bonds

What is an Administration Bond? An administration bond is personal liability imposed on a prospective estate trustee to protect the interests of the beneficiaries and creditors if the assets are misappropriated. The bond is obtained from a surety (usually an insurance company) and given to the court. The amount of the administration bond that must

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Care Home and Tenants Rights

What is a Care Home?  A care home is rented accommodation that provides care services. Such services include nursing care, prescription drug supervision, an emergency response system, transportation, incontinence care and assistance with daily activities (e.g., eating, bathing, dressing, and personal hygiene). If you live in a care home, you have the same rights as

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Selling My Home . . . Now What?

Should I Hire a Selling Agent? When selling your home, you have the choice of going “For Sale by Owner” (FSBO) or hiring an agent. The principal advantage of selling your home yourself is that you save the cost of commission. However, there are a number of drawbacks. Your home will generally have less exposure

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Passing of Accounts and Estate Accounting

Passing of Accounts Estate Trustees are required to keep accurate and up-to-date accounts of the estate or trusts they are administering. Obtaining the court’s approval of these accounts is a process known as “passing of accounts”. The court’s approval is not always required, but in certain circumstances a passing of accounts is necessary. These instances

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DYING WITHOUT A WILL; INTESTACY LAWS IN ONTARIO  In accordance with the Succession Law Reform Act (SLRA), when you die without a Will (known as dying intestate) your estate will be administered according to the law of intestacy. The Rules The rules of intestacy are inflexible, and apply regardless based on bloodlines. These rules may

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Estate Information Return

What are the consequences for NOT filing with the Minister of Finance? Estate representatives who fail to file the Information Return as required, or who make false or misleading statements on the return, are guilty of an offence and, on conviction, are liable to a fine of at least $1,000 and up to twice the

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