Reznik v. Matty

Reznik v. Matty

As a superior court the court has jurisdiction to compel assent and make a limited interim distribution where the executor's retention does not have just cause, the estate demonstrably has liquidity and value and the proposed distribution is modest relative to the residue; on the facts the executor failed to show prejudice or justification, so $40,000 must be set aside and $10,000 paid to each residuary beneficiary.

Citation
2013 BCSC 1346
Parties
Petitioner: Susan Reznik; Petitioner: Craig Matty; Petitioner: Kim Matty; Respondent / Executor: Chad Matty
Court
Supreme Court of British Columbia
Jurisdiction
Canada
Judgment Date
29 July 2013
Procedural Posture
Estate Administration Petition for Interim Distribution / Judgment (reasons for Judgment)
Outcome
Order granted compelling partial distribution of estate funds
Legal Topics
Interim Distribution, Assent, Executor Duties, Power of Advancement, Inherent Jurisdiction, Executor's Year
Source Language
English
Wills and Estates Equity Civil Procedure Interim Distribution Assent Executor Duties Power of Advancement Inherent Jurisdiction +1 more

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Parties

Susan Reznik

Petitioner

Craig Matty

Petitioner

Kim Matty

Petitioner

Chad Matty

Respondent / Executor

Procedural Posture

Estate Administration Petition for Interim Distribution / Judgment (reasons for Judgment)

Legal Issues

  1. 1 Whether the court has jurisdiction to order an interim distribution of estate assets prior to completion of administration
  2. 2 Whether the executor's power to retain overrides the duty to realise and distribute the estate
  3. 3 Whether the power of advancement applies to justify distribution

Ratio Decidendi

As a superior court the court has jurisdiction to compel assent and make a limited interim distribution where the executor's retention does not have just cause, the estate demonstrably has liquidity and value and the proposed distribution is modest relative to the residue; on the facts the executor failed to show prejudice or justification, so $40,000 must be set aside and $10,000 paid to each residuary beneficiary.

Court Disposition

Order granted compelling partial distribution of estate funds

Orders

  • Respondent executor to set aside $40,000 and distribute $10,000 to each of the four residuary beneficiaries
  • Costs of the proceedings to be borne by the respondent executor (not by the Estate)