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EXECUTORS AND ADMINISTRATORS - Duties

Tuesday, August 27, 2019 @ 8:37 AM  


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Appeal by an estate from the Registrar’s decision refusing to accept its proposed inventory for filing. The executrix of an estate filed an application for grant of probate that included a valuation for the fair market value of a property, based on its assessed value at the time of death of $111,000. The property was listed for sale on the open market and sold in an arm’s length sale for $90,000 less than three months after death. The estate filed a proposed inventory listing the property as having a value at death of $90,000 and sought to pay probate fees based on that value. The Registrar indicated that the fees had to be based on the valuation in the application for grant of probate.

HELD: Appeal allowed. The estate could use the sale price from the arm’s length sale as indicative of true market value. The sale was truly reflective of fair market value and so close in time as to be so reflective at death.

Vickery Morris Estate (Re), [2019] N.S.J. No. 301, Nova Scotia Probate Court, J.R. Hunt J., July 10, 2019. Digest No. TLD-August26019005