Brown Bag Lunch – December 19, 2023

  • 13 février 2024
  • Rebecca Kennedy, Adair Goldblatt Bieber LLP

The final Brown Bag Lunch meeting of 2023 was held on December 19. Despite the proximity to the holidays, BBLers still showed up ready to discuss a variety of interesting topics and practice questions.

The meeting began with participants sharing their thoughts on one BBLers request for input on how to appoint a non-resident beneficiary as estate trustee without a Will for a relatively small estate, without consents from the other beneficiaries. Several attendees expressed concern that such an application would be successful at all, suggesting that a trust company would be a better solution. Some trust companies have a lower minimum threshold estate value or will agree to act provided they are paid the minimum fee.

Next, one attendee shared a complicated planning matter they are working on, involving a client’s desire to roll out assets, wind up a trust, and establish a new trust for different beneficiaries to hold the same assets. The matter involved a number of challenging issues that led to a lively discussion amongst participants, including whether notice must be given to a third trustee where there is a majority rules clause for decision-making, and possible family law issues.