Release and Indemnity to Estate Trustee (ON)

Summary

This precedent is a release and indemnity to be signed by a beneficiary of a full accounting of the administration of the estate. It contains practical guidance and drafting notes. Many of the desired effects of a passing of accounts can be secured through having all beneficiaries of the estate sign releases. The reasons as to why an estate trustee may wish to pass accounts before the court vary but may include the fact that through the passing of accounts process, the quantum of compensation that an estate trustee is entitled to can be fixed by the court and the estate trustee may be released from liability for his or her management of the estate for the period for which the accounts are produced. In this precedent the beneficiary acknowledges receipt from the Estate Trustee of a full and adequate accounting of his/her administration of the estate and releases the Estate Trustee from liability for his or her management of the estate for the period for which the accounts are produced. ...