Is an executor required to produce an estate accounting to the beneficiaries of an estate?
Ontario, Canada
The following excerpt is from Munro v. Thomas, 2021 ONSC 3320 (CanLII):
[22] It is beyond dispute that an executor has an obligation to fully and fairly report to the beneficiaries information as to estate assets. An estate trustee must act in an open and transparent manner. A beneficiary of an estate is entitled to compel an executor to produce an estate accounting. As Braid J. stated in Class v. Smith, 2018 ONSC 623 at para. 51: “A trustee has an obligation to keep proper accounts, and to keep a complete record of his activities. He must be in a position, at all times, to prove that he administered the trust prudently and honestly.”
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