When Does the Fight Really Start?
In a recent article in the Toronto Star, estate litigation was explored from another angle; fighting over the estate before there really is one to fight over.
The author of the article discusses a story regarding an individual who was waiting for his parents to pass away, so that he could reap the financial reward of their hard work. On first glance this may seem shocking, but unfortunately is achingly familiar. Although we see family fights every day, and indeed engage in litigation over a deceased loved one’s life savings, a specialized fight appears to be more and more prevalent.
The article suggests that the increase in disputes over a parent’s estate while they are alive can be attributed to demographics; the result of a generation that is living longer, had a habit of saving, and find themselves in need of care.
Claims against an estate are often brought under the guise of needing funds during the course of caring for an ailing or ill parent. In a recent decision, Justice David Brown commented on this very issue, indicating that the courts are losing their patience with money hungry children.
I am hopefully years away from dealing with ailing family members and the reality of dealing with their financial affairs. Yet in light of the recent spotlight on this issue, I hope that if you find yourself in this position, you make decisions after careful consideration of all possible outcomes.
Thanks for reading,
Nadia
Nadia M. Harasymowycz - Click here for more information on Nadia Harasymowycz.
