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April 2, 2023

Month: June 2018

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Thursday, 21 June 2018 / Published in General

Administration Bonds

What is an Administration Bond?  An administration bond is a promise to pay under specified circumstances, undertaken by a prospective estate trustee, to protect the interests of the beneficiaries and creditors if the estate trustee misappropriates assets of the estate or otherwise perpetuates a fraud on the estate. The bond is obtained from a surety
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Wednesday, 13 June 2018 / Published in Law, Law News

Insolvent Estate Administration

What happens if I die without enough assets to satisfy my debts?  When someone dies with insufficient assets to meet the claims of their creditors, they leave an insolvent estate. The Bankruptcy and Insolvency Act and the Trustee Act govern the administration of insolvent estates, and the legislation allows executors to pay for “proper funeral

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