L.P. Suzanne Atkinson's Blog, page 3
May 8, 2013
THE BENEFICIARIES: She wrote her will within a year ...
THE BENEFICIARIES: She wrote her will within a year after Rob passed away and I am executing that will some nine years later. It has never been revised. Consequences are suffered as a result. The calls from beneficiaries who want their money are coming on a fairly regular basis. I hear from one particular relative frequently and his calls are getting desperate. I discover, later, that he called the lawyer and expressed suspicions that I may be misusing funds and he is not going to get his money. Another relative has called a couple of times, insisting that they be told ‘my cut’. (Atkinson, 2012)
Dealing with beneficiaries can be complicated. In this particular case, many of those receiving money were relatives of Rob in some capacity, and knew Emily only in a vague and general way. It is certainly not unreasonable to suggest that receiving their generous financial bequests was their overall priority. Challenges with the beneficiaries stem mainly from how the will was written. There is no contact information. There is also a trust to be established and administered by the executor and this trust could well outlive her. Alternate arrangements are required. The purpose of this chapter is to lift the veil of secrecy surrounding bequests and show the reader how things can be better streamlined. Asking the hard questions at the time of taking on the role of executor is paramount in avoiding complications after a death.
April 25, 2013
As promised, this is the complete cover (or as ...
As promised, this is the complete cover (or as close as possible). April 17, 2013
THE TRAPPINGS OF LIFE:I have been an auction fan most of ...
THE TRAPPINGS OF LIFE:
I have been an auction fan most of my life. As a child, I lived with my family in a new subdivision that backed on to a hayfield where outdoor auctions were held every other Saturday, rain or shine. Not wishing to date myself, I will reveal that this took place during the time when a child of eight or nine could wander independently among the old tables, wobbly chairs, commode sets, and iron bedsteads; could reach out and touch a ragged quilt or thumb through a photo album filled with brown and grey images of frowning and stern dead relatives of someone or other. (Atkinson, 2012)
Although the physical labour of disposing of personal items like clothes, food, and medications has been completed, the task of formally appraising the contents of Emily’s home and subsequently selling every item begins. This chapter details that process and illustrates the challenges inherent in liquidating the possessions of a consummate collector. Emily and Rob went overboard with accumulating items they thought would eventually appreciate in value. The executrix is left with a chore of turning these items into cash for the estate, as the ultimate goal is to pay the beneficiaries the monies they have been promised. The liquidation of household items by an executor is a common occurrence in estate management. The writer takes the opportunity to share this albeit extreme circumstance with the reader.
I have been an auction fan most of my life. As a child, I lived with my family in a new subdivision that backed on to a hayfield where outdoor auctions were held every other Saturday, rain or shine. Not wishing to date myself, I will reveal that this took place during the time when a child of eight or nine could wander independently among the old tables, wobbly chairs, commode sets, and iron bedsteads; could reach out and touch a ragged quilt or thumb through a photo album filled with brown and grey images of frowning and stern dead relatives of someone or other. (Atkinson, 2012)
Although the physical labour of disposing of personal items like clothes, food, and medications has been completed, the task of formally appraising the contents of Emily’s home and subsequently selling every item begins. This chapter details that process and illustrates the challenges inherent in liquidating the possessions of a consummate collector. Emily and Rob went overboard with accumulating items they thought would eventually appreciate in value. The executrix is left with a chore of turning these items into cash for the estate, as the ultimate goal is to pay the beneficiaries the monies they have been promised. The liquidation of household items by an executor is a common occurrence in estate management. The writer takes the opportunity to share this albeit extreme circumstance with the reader.
