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Toronto trust and estate lawyer Ian Hull explains the burdens of being an executor to the Globe and Mail, noting that litigation over estate-related matters is increasing, and the role has become more complicated. Read Globe and Mail Story
Hull says estate actions are on the rise because of demographics and beneficiaries being more savvy than ever before. It used to be that beneficiaries weren’t necessarily told the executor’s identity; now beneficiaries are more inclined to sue if the matter doesn’t go well, says Hull, partner with Hull & Hull LLP. WATCH Hull & Hull TV
And, he warns, the “the case law seems to be imposing costs on executors now in situations where they never would before if they made a mistake.
“If you do mess up as an executor, it can be financially ruinous.”