What are the challenges facing estate trustees in this fluctuating and uncertain economy? What advice can and should lawyers offer in the administration of estates to protect their clients? This program will examine these issues and include the key topics of realization of assets, the prudent investor rule, dealing with insolvent and bankrupt testators and estates, and related tax issues. Experts in the field will share with you valuable insights and practical suggestions for managing the turbulent times your clients find themselves in.

Focus: What are the challenges facing estate trustees in this fluctuating and uncertain economy? What advice can and should lawyers offer in the administration of estates to protect their clients? This program will examine these issues and include the key topics of realization of assets, the prudent investor rule, dealing with insolvent and bankrupt testators and estates and related tax issues. Experts in the field will share with you valuable insights and practical suggestions for managing the turbulent times your clients find themselves in.

Highlights will include:
• How to determine priorities between creditors
• Challenges in valuing assets
• Utilizing tax losses and a refresher on trustee filing requirements
• Guidance on how to develop investment plans
• Comments from LawPRO on how to manage risk in an estates practice

   Webcast Available           

9:00 am Introductory Remarks

9:05 am Realizing Estate Assets and the Duty to Account
• Valuation issues
• When to sell and when to hold assets
• Liability of estate trustees
A. Sean Graham, Eisen Graham

9:40 am Applying the Prudent Investor Rule
• Refresher on the prudent investor rule
• Developing an investment plan during volatile markets
Gerald W. Owen, The Bank of Nova Scotia Trust Company

10:15 am Dealing with Insolvency and Bankruptcy Issues
• Insolvent and bankrupt testators versus insolvent and bankrupt estates
• Order of priorities for the payment of creditors
• Bankruptcy process
• Abatement of gifts
Philip J. Gertler, Gertler & Koven

10:50 am Break

11:05 am Tax Considerations
• Utilizing losses and other post-mortem planning
• Filing requirements with respect to the testator and the estate
• Personal liability of estate trustees and beneficiaries
Bryan T. McNulty, Pallett Valo LLP – Mississauga

11:40 am Risk Management
• Review of claims statistics related to estates matters
• Risk management tip
Pauline R. Sheps, LawPRO

12:15 pm Question Period

12:45 pm Program Concludes