Executors carry a considerable burden any time they’re called to carry out an estate plan, even for relatively small estates with few assets. Collectors should consider whether post-mortem or “inter vivos” (Latin for “between the living”) estate planning would best suit their needs. While the latter offers more certainty your dying wishes will be fulfilled, the former opens the door to uncertainty that sometimes has to do with the executor’s ability to distribute your assets according to plan. “It’s stressful, and you’re not usually in your best frame of mind when someone close to you has passed,” said Toronto collector and lawyer Ian Speers, referencing the emotional turbulence of acting as an executor. Continue reading →
When deciding to sell their collections, collectors must choose between post-mortem or ‘inter vivos’ estate planning, the latter of which can offer more certainty.
