As a beneficiary, you have certain rights. The executor or administrator of the estate is your trustee and owes you a duty of good faith. This means that you are entitled to full disclosure respecting matters related to the estate. As well as honesty and fidelity from your executor and trustee.
The Laughlin & Company Lawyers and Mediators in Port Coquitlam can give you the guidance you need to ensure that your rights are protected. In cases where they are not, assist you to effect the necessary court remedies.
Beneficiaries with Special Rights
If you are a spouse, married or common law, or a child, natural or adopted, of a deceased person, you have special rights under the Wills Variation Act. You may have a legitimate claim to a larger portion of the estate than you have been bequeathed and we assist you to pursue that remedy.
You may be a beneficiary of an ongoing trust made either in the will or created outside of the will. These trusts are administered by the trustee for your benefit but it is often in the discretion of the trustee as to what those benefits should be. There are situations where you can question the benefits being conferred and have them raised by agreement or court order. Other situations can arise which place you in a position to collapse the trust in its entirety and to take the entire value of the trust immediately. This can be done under certain common law principles, by agreement or by court order, or pursuant the Trust and Settlement Variation Act. In a world where the investment returns on financial assets are extremely low, it may be far more beneficial for you to have a capital sum to invest for your personal needs such as a family home rather than periodic payments over a number of years. The best lawyers at Laughlin & Company Lawyers and Mediators take time to review the terms of your trust, together with your own personal needs and living situation and ensure that your best interests are protected and that the best use of the trust assets accrues to your benefit.
To learn more about your options for beneficiaries, contact our office. Call the firm at 604-239-0800 or get in touch online.