People who believe they have been named in a will yet are still waiting to hear any news about the estate after a couple years may be wondering what they can do. When it comes to estate beneficiary advice in Ontario for this type of situation — those concerned have every right to ask questions of the estate’s executor as to the status of the estate. Beneficiaries have rights and those rights include knowing what is available to them.
Disclosure rights are also known as accounting rights. If asking simply isn’t getting a beneficiary anywhere, he or she can follow formal procedures to force an accounting. Beneficiaries have the right to know what assets were part of the estate in the first place, what of those have been sold and details of what debts have been paid. If an executor has been working with a lawyer, the lawyer could be asked to answer those questions.
A beneficiary should not have to wait an inordinate amount of time to find out about the particulars of a will. While it may take some time if the will is being probated, a beneficiary has the right to know why and what’s going on with the estate. He or she might do well to retain his or her own legal counsel.
Some Ontario residents may not be aware that they have rights if they have been named as beneficiaries of someone’s estate. Getting estate beneficiary advice from an experienced lawyer may be the best course of action. As a beneficiary, it is a wise idea to have an understanding of the processes involved in being an executor of a will as well.