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Estate Accounting
When a will and or estate holdings are subject to litigation an Estate Trustee During Litigation (ETDL) can be appointed by the Court (pursuant to the Ontario Estates Act) to administer the estate while the litigation is ongoing. The ETDL acts as an officer of the court and is an unbiased, neutral, third-party executor and fiduciary. Once appointed the ETDL is responsible for controlling and preserving the estate’s assets and ensuring that the assets are not dissipated until matters are resolved.
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Kulbak Trust Solutions is skilled in acting as an ETDL. Our fiduciary expertise and familiarity with court appointments and reporting requirements makes us an ideal solution for ETDL engagements. Under a ETDL appointment our clients benefit from our years of estate and trust knowledge, accounting, tax, valuation and financial administrative knowhow.
Sample of ETDL Related Services Provided
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Compiling and determining the value of the estate’s assets and liabilities
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Safeguarding, protecting and preserving assets
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Investigating and determining if any assets are missing and or unaccounted for
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Initiate or assist in the collection of evidence and associated documentation to resolve the dispute
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Collect any income earned and or owed to the estate
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Reviewing for propriety, defending settling and paying debts
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Manage any ongoing business concerns
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Provide regular and ad-hoc reporting to all parties
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Complete record keeping of all transaction activities in accordance with court reporting requirements
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Filing income tax returns, review and outline tax planning opportunities
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Invest the estate’s funds in a manner consistent with the court order
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Fulfilling responsibilities of an executor until the litigation is concluded
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Assisting in the mediation process