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Legal Ease
Legal Ease, Lawyer
Category: Canada Law
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Mom died in 2013 May 02 and I'm the oldest son of her five

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Mom died in 2013 May 02 and I'm the oldest son of her five children and was assigned as a sole executor. Shortly after Mom's death I arranged for distribution of the various accounts that Mom had set up in joint names (~ $80,000 each) and that were outside of the probate process. All expenses were paid by me from my line of credit against my own house.
Probate was granted 2015/10/16 and there are 5 siblings who share the estate equally. The estate was made up of a VanCity TFSA (~ $26,000) in my Mom's name that needed to be probated and the family home in Kitsilano.
Once I had probate I deposited the TFSA amount in an estate account and reimbursed myself for estate expenses up to that point.
The main asset was the family home (torn down after Dad died and rebuilt as an up/down not stratified duplex in Kits) that was owned 54% by Mom (property value) and 46% by my only sister. Both lived in the bottom portion of the house and rented out the top portion. CRA has determined the capital gains on Mom's and the Estate's portion of the house and I've paid that from my line of credit. CRA has given an interim clearance for my Mom up to her date of death.
My biggest little brother (Richard - 60 yrs old and retired) has brain cancer (found in the summer of last year) and I'd like to distribute the majority of the estate funds (~ $210,000 each) before receiving CRA clearance for the Estate while retaining ~ $50,000 for CRA and other possible miscellaneous estate related expenses.
More than 6 months have passed since Probate was granted.
1. Should I have an interim (if there is such a thing) 'Release' from my siblings before distributing the funds?
.....I've found a Self Counsel Press book 'So You've Been Appointed Executor' that contains a generic RELEASE sample form (on page 126) but I'm not sure it is needed or the correct form for BC.
2. Do I need to provide accounting for the estate before they sign the release?
.....If so, is this the BC form # ***** 'Statement of Account Affidavit' or is it intended to be used with some other process?
Submitted: 6 months ago.
Category: Canada Law
Expert:  Legal Ease replied 6 months ago.
The release is for your protection.The idea is that all of those who are inheriting sign the release stating that they agree with what you've done essentially and that they will not sue you.It is not that the Court or the government or anyone else needs to see the release. It is just for you.So it is up to you to decide whether you feel like you can provide them with the general generic release so whether you want a lawyer to do it.If a sibling will not sign the release then you can protect yourself by to going to court and passing your accounts.There is no such thing as an interim release because it is the saying they are not going to sue you.Do you see what I mean?

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