Legal Question in Wills and Trusts in Canada

am I in the dark

Thank you ahead of time. My father (4 mths ago) and mother(4 yrs ago) have both passed. Leaving us three children executors. I have asked for all financial records from the estate lawyer, two months ago. He said dad had NO life insurance, I find that very hard to believe. He had a high paying job for 36 years. Is there anyway I can search for that myself? Also my brother doesn't feel he should have to pay anymore for the property than what my father had purchased it for three years ago. Would it be wrong of me to have ALL of the property appraised?


Asked on 1/17/02, 12:00 am

1 Answer from Attorneys
Steven Matheson Edwards & Carfagnini

Re: am I in the dark

It would be the most practical (and least expensive) to try to come up with a value for the property that everyone is happy with. If the estate is split evenly, then the value simply comes off your brother's one third share. This will not stop Revenue Canada from valuing the property at current market value for taxation purposes. With respect to the life insurance, I suspect the lawyer is correct but if you are still concerned, you could check with your Dad's employer to see if they had a company policy in place.

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Answered on 1/17/02, 8:19 am


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