Posts Tagged 'mills & mills'

Will you be my Estate Trustee?

Will you be my Estate Trustee?

What to do when someone asks you to be their Trustee.

Courtesy of David Mills from Mills & Mills LLP. And contributed by J. Paul Mills, Q.C.

If someone asks you if you are willing to be her or his Estate Trustee, Executor, Attorney for Property or guardian of children, you should not automatically say “Yes”. Acting in any one of these fiduciary capacities can be seen to be an honour but there are very serious responsibilities involved which should not be ...

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Can Trustees Avoid Liability?

Can Trustees Avoid Liability?

Can a Trustee Avoid Liability Even if Found to Have Made a Costly Mistake?

Courtesy of David Mills from Mills & Mills LLP..

Before agreeing to take on the role of Estate Trustee, the named individual should consider carefully the fact that it is a difficult, time consuming and often thankless job. For the uninitiated, the myriad responsibilities – from gathering information on assets and liabilities, to assembling tax information and completing tax returns, to managing relationships with and among beneficiaries (many ...

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Worthless old Share Certificates?

Worthless old Share Certificates?

Courtesy of David Mills from Mills & Mills LLP..

What do I do with these?

If you come across some share certificates of companies which are no longer in business, do not assume that they are worthless. If the circumstances are right, they may be used to obtain a tax refund. The first thing to do is to find out when the shares became worthless, that is, when the company went out of business or declared bankruptcy. That ...

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