Previous Post: When is an Estate Trustee Entitled to Take Compensation?
Click here or on top Blog logo to return to Blog front page.
Menu
45 St. Clair Ave. West, Suite 600
Toronto, Ontario, M4V 1K9
Tel: (416) 925-7400
FOUNDER
PARTNERS
LAWYERS
FIRM COUNSEL
ARTICLING STUDENT / STUDENTS
LAW CLERKS
OFFICE MANAGEMENT
Will, Estate, Trust Disputes
Advising Fiduciaries
Dependant Support Claims
Passing of Fiduciary Accounts
End-of-Life & Treatment Decisions
© 2024 WEL Partners, practicing as WEL Professional Corporation. All rights reserved.
WEL Partners is committed to providing accessible customer service. If you require communication supports, please contact us by email at admin@welpartners.com or by telephone at 416-355-3253 or 416-925-7400.
Please note: Our Firm does not accept retainers via e-mail; and sending an e-mail to our Firm does not constitute a retainer. You will not be considered a client of the Firm unless and until we have agreed to act for you according to our usual procedures for accepting clients which includes a signed written retainer agreement. Do not include any confidential information in your e-mail. Any confidential information will be deleted immediately by our Firm.
Written by: WEL Partners
Posted on: July 26, 2017
Categories: Commentary
While estate trustees are not required to advertise for creditors, failure to do so can, in certain circumstances, leave an estate trustee personally liable should a creditor or creditors make claims against an estate once it has been distributed. There are no specific requirements for advertising for creditors in the Trustee Act, RSO 1990, c T.23, however, it is generally accepted practice to place a Notice to Creditors in the deceased’s local newspaper or to advertise for creditors with the Ontario Gazette. These options are often expensive, and estate trustees can face a difficult choice between expending significant estate assets on advertising to creditors or leaving themselves exposed to personal liability down the line.
However, in a Judgment rendered on July 7, 2017, in the Estate of Corrol Allen Dale, Justice Conway held that a Notice to Creditors posted on noticeconnect.com was sufficient to grant a trustee protection from personal liability under section 53(1) of the Trustee Act. The fee for posting a Notice to Creditors online with Notice Connect is $130, providing estate trustees with an additional, and in many cases less expensive, means of protecting themselves against personal liability with respect to creditors of an estate.
Author
View all posts