OBA members gathered virtually on May 18th, 2021 for the May BBL meeting. Members observed that there have been more attendees since meetings became virtual as a result of the pandemic. There was a brief discussion regarding the logistics of meetings moving forward and whether attendees would prefer the virtual meetings to continue or whether they would prefer to resume in-person meetings. Anyone who would like to share their thoughts on this topic is invited to contact Rebecca Rauws at rrauws@hullandhull.com.
There was an interesting discussion at the outset of the meeting regarding the doctrine of economic waste. One participant advised the group that he was unsure how to proceed with a testator’s wish that estate assets be destroyed after his death. Although a testator could take steps to destroy his or her own assets during his or her lifetime, it was the general sentiment of the BBLers present that an executor cannot capriciously destroy estate assets, as it would be against the interests of the beneficiaries. One BBL’er invited attendees to consider the Wishart Estate Re, [1992] N.B.J. No. 547, 46 E.T.R. 311 decision whereby the court considered the public policy doctrine of economic waste, concluding that a term providing that the testator’s four horses be shot after his death should not be upheld. Another BBLer shared a Missouri Law Review article on this topic.
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