Expert handling of a long-distance settlement


Richard and Max were lifelong friends who met in grade school in Victoria. They kept in touch throughout the years, although their lives had taken them to different parts of the country. When Richard, a lifelong bachelor, passed away, he named Max, his most trusted friend, executor of his estate.

Max was unsure of how to handle the administration of Richard’s estate, which included sizeable gifts to charity and also named several of Richard’s nieces and nephews, whom Max had never met, as beneficiaries. To further complicate matters, Max lived in Halifax and Richard was living in Vancouver at the time of his death.

While in Vancouver for Richard’s funeral, Max visited Richard’s RBC branch to deal with his accounts there. He discussed his situation with a customer service representative in the branch, who suggested he meet with a Royal Trust advisor. After assessing his needs, RBC Royal Trust in Vancouver was able to assist Max in his role as executor, carrying out the complete administration of Richard’s estate, including managing the charitable bequests and selling the family home, which was in a very popular area of the city, all while Max retained decision-making authority.

While completing the appraisal process, RBC Royal Trust received enquiries about the property and even a verbal offer of $10,000 above the home’s appraised value to purchase Richard’s house. Sensing that the aggressive market might work in their favour, RBC Royal Trust recommended listing the property, negotiating a very low realtor’s commission and, ultimately, selling the home for $50,000 over the asking price — money that went directly to the estate.

Richard’s beneficiaries were very pleased with the professionalism and expertise of the RBC Royal Trust team, enabling Max to carry out his friend’s last wishes efficiently and seamlessly for everyone concerned. And because Max’s Royal Trust advisor communicated with the RBC branch in Halifax whenever there was paperwork for Max to sign, Max was able to manage his executor duties from home, making it considerably easier for him to carry out the complete estate settlement.

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