Toronto Estate Litigators for Complex Trustee and Executor Disputes
When disputes arise between trustees, executors, and beneficiaries of high-value estates, clients need experienced legal counsel from a lawyer that keeps their financial interests in mind at every stage. Complex estates often include multiple trusts, assets in different jurisdictions, investment income, and other accounts.
Financial Litigation is a boutique law firm that practices exclusively in financial litigation. We offer insightful legal advice to clients while offering an in-depth understanding of their financial needs and the demands of their profession and business.
What are the duties and obligations of an estate trustee or executor?
Generally speaking, an estate executor or trustee must administer the estate. This involves collecting and valuing estate assets, and distributing these in accordance with the will. In doing so, they must always act in the best interests of beneficiaries, and keep careful accounts of estate assets and debts paid.
High-value estates often require specialized knowledge to administer, and are a large time commitment. In some circumstances, the chosen executor or estate trustee is not able to fulfill their obligations, and may mismanage the estate. In the most serious cases, they may actively work against the interests of the estate to enrich themselves.
Removing an estate trustee
Removing an estate trustee or executor is not easy, and requires clear evidence of the alleged misconduct or wrongdoing. In order to authorise their removal, the court must be convinced that allowing them to continue in the role would be harmful to the beneficiaries. This might include:
- Disputes or friction between trustees such that they are incapable of acting fairly;
- Failure to properly record and disclose debts paid and distributions made from the estate;
- A trustee has filed for bankruptcy, is seriously ill, or otherwise incapable of continuing; or
- Breach of a trustee’s fiduciary duty to put the beneficiary’s interests above their own.
With our specific focus on financial disputes, Financial Litigation has a deep knowledge of the ins and outs of estate litigation, and works with a network of expert forensic accountants and valuations professionals that help create a strong case. We carefully review business records, accounting records, and other documents to help build a strong case.
Comprehensive legal advice for clients facing trustee and executor disputes
When you hire Financial Litigation, you receive personal, one-on-one legal advice about your estate dispute. We represent beneficiaries and trustees that are seeking to have an executor or trustee removed, as well as advising individuals facing challenges or removal. Our experience handling commercial and financial litigation means we are uniquely placed to manage complex matters involving high-value estates. Call 416-769-4107 x1 or contact us online to schedule an appointment.