The end of summer is best illustrated by the end of timely long weekends, fewer hours of daylight and back to work routines. For many OBA members, the month of September marks the arrival of the first Brown Bag Lunch (BBL) of the 2018/19 season. On September 18, members of the estates bar converged on conference and video calls across the province to discuss topical issues and challenges in estates. A summary of the BBL is found below.
The majority of the meeting focused on the decision in Milne Estate (Re), 2018 ONSC 4174. This decision sparked an in-depth discussion among BBLers as to their practice moving forward with respect to the drafting of primary and secondary wills. As well, BBLers shared their thoughts on what their duties should be to former clients, including those who are no longer capable of making a new will.
Next, the discussion turned to administrative bonds. The issue arose in the context of an intestacy where the deceased was a successful entrepreneur and a married father with children, one of them a minor. Under the guise that it is necessary for an estate trustee without a will to post a bond during the administration of the estate, questions surrounded the valuation of privately held shares in corporations that are solely in the name of the deceased. Many members provided suggestions as to how best to navigate this issue, which suggestions included making an interim appointment and considering insurance companies that offer bonds.
All members of the Ontario Bar Association are encouraged to attend the next BBL on October 16, 2018 at 12:00 pm – we look forward to hearing from everyone then!
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