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ARTICLE · 29 FEBRUARY 2024

Can A Beneficiary Get Out Of A Release?

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The actions of an Estate Trustee can be approved in two ways: a formal passing of accounts where the Court approves the actions by the Estate Trustee, or, by having the beneficiaries sign a release.

CanadaFamily and Matrimonial
David G. Waites
David G. Waites
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The actions of an Estate Trustee can be approved in two ways: a formal passing of accounts where the Court approves the actions by the Estate Trustee, or, by having the beneficiaries sign a release.

Releases typically accompany a proposed interim and/or final distribution of an Estate. By signing the release, the beneficiary is approving the steps taken by the Estate Trustee up to the point of the distribution thereby releasing the Estate Trustee from any liability during that time period. With a signed release, the Estate avoids the costs associated with preparing and passing formal accounts.

But what if a beneficiary signs a release, only to realize later they shouldn't have?

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