Canada - Barry, 75, & Honey Sherman, 70, found dead, Toronto, 15 Dec 2017 #2

[PaulR]

The problem with that type of document is that if one of the children dies before the parents, then the descendants of the deceased child are automatically excluded from the inheritance. It's a good option in families where there is only one child.

Not an attorney, but when I worked with one to write it up, I think you could specify that it be distributed however you liked. But this is probably getting off-topic.

 

[otto]

The homes are in totally different neighbourhoods. Where they are is north of the old city limits and where the new house was to be built is in Forest Hill, a very posh area of the downtown area. I would imagine they were awaiting demolition and building permits from the city of Toronto.
It can take awhile to get permits, often close to a year, esp as the home she purchased was a fine home. She just wanted to change it, possibly to another modern style. The excavation was just recently finished. Meanwhile, live in your previous home and get a reasonable closing date that suits. They've had a busy year, a new grandchild a couple of weeks ago, a daughter preparing to marry shortly and the new house.
I really DOUBT that its about the house. Money isn't an issue, someone will do all the moving for them, etc.

This could well be a case where the public never knows, if its a suicide/murder I don't think the family will want that given out. JMO

Thank you. Still, in the big picture, the only change in their circumstances that were are aware of is that their current house was recently put on the market, and their future home was recently demolished. Other than this, it appears that it was business as usual with weddings, births, travel, and the wife planning all sorts of social events.

 

[Tighthead]

The problem with that type of document is that if one of the children dies before the parents, then the descendants of the deceased child are automatically excluded from the inheritance. It's a good option in families where there is only one child.

That all depends on the construction of the trust. Like a will, most contemplate various eventualities.I think you are thinking of joint ownership, where parents add their children as owners with the idea that the kids take it directly upon death. It can be a disaster.

Like you say one child it’s fine, and usually best with a very short lifeline.

 

[otto]

Not an attorney, but when I worked with one to write it up, I think you could specify that it be distributed however you liked. But this is probably getting off-topic.

True, but specifying all children, or all children and all grandchildren future and present, makes for a very messy situation. My family recently looked into this option and we were stopped in our tracks because the standard practice is all children, and if one child dies before the parents, that child and descendants are excluded from the inheritance. We couldn't take the risk, and opted instead for allowing the estate to go to probate. It ties up the assets for several months, and taxes must be paid regardless of whether the estate is in probate.

Although they had a billion dollar worth, my guess is that much of it was tied up in the company. One thing that Barry may have done prior to committing suicide is move money to pay taxes, which will be due in April. That is the very least he could do to settle his estate prior to suicide.

 

[Jealoushe]

The Police Chief has stated that anything they have to say will go first to the family. If the family wants privacy, they have that right unless murder is involved. All the police are likely to say is 'The Sherman case has been closed'

They owe the media nothing. They owe the public nothing. JMO

True, but it certainly helps put the issue to rest.

 

[Satchie]

Although they had a billion dollar worth, my guess is that much of it was tied up in the company. One thing that Barry may have done prior to committing suicide is move money to pay taxes, which will be due in April. That is the very least he could do to settle his estate prior to suicide.

It seems this could be true, here's a recent article I was just reading, I hadn't seen it posted here. It's oriented to business readers/stock traders rather than the general public.

Canadian pharmaceuticals billionaire Barry Sherman failed to implement a succession plan at his Apotex business before his death last week, two business associates told Reuters, potentially leaving it vulnerable to takeover approaches....

Sherman had always resisted approaches from trade buyers and never wanted to take the generic drugmaker public, the associates said, preferring to keep control and not involve outside shareholders...

Despite stepping down as chief executive in 2012, the self-confessed workaholic continued to work seven-day weeks and 12-hour days. None of Sherman's four children were interested in running the business and only one had worked at the company, the associates said.

https://www.bnn.ca/succession-doubt...ter-death-of-barry-and-honey-sherman-1.950528

So if he still owned 100% of the company, will his children try to keep the company going, or try to find a buyer? Is the new CEO willing to work 12 hour days, 7 days a week, and launch as many lawsuits, to keep the company profitable?

 

[dotr]

https://www.thestar.com/news/gta/20...er-barry-sherman-was-absolutely-singular.html

[h=1]When it came to launching legal battles, Apotex founder Barry Sherman was ‘absolutely singular’[/h]“There’s no one else in Federal Court whose name is attached to more cases that I know of,” says Amir Attaran, a University of Ottawa professor.

Just how litigious was the late Barry Sherman? “I think he was probably the most active litigant in any industry in Canada,” said Amir Attaran, a professor in the faculties of law and medicine at the University of Ottawa.

Tom McAnulty, a pharmacist who formerly worked in the brand-name pharmaceutical industry, said that brand-name companies “detested” Sherman’s litigiousness. “Barry was one of the most aggressive,” McAnulty said.

The cousins were seeking the financial equivalent of 20 per cent of Sherman’s interest in Apotex.

“I still believe . . . that Barry, in his own way, didn’t think I’d be this tenacious,” said one of the cousins, Kerry Winter, in an interview with the Star this year.

 

[JDG]

True, but it certainly helps put the issue to rest.

If, after the Shiva and other religious observances have occurred, we hear that the Sherman case has been closed, we will know it was a double suicide or murder/suicide done by Barry. Both are horrible for the family, as is this whole scenario.

 

[Tortoise]

The Police Chief has stated that anything they have to say will go first to the family. If the family wants privacy, they have that right unless murder is involved. All the police are likely to say is 'The Sherman case has been closed'

They owe the media nothing. They owe the public nothing. JMO

What about if he murdered Honey. Wouldn't there be a coroner's inquest?

 

[SteveHolt!]

I doubt we'll ever know why this happened, but murder-suicide is what police are saying.

A very successful school friend of my father did the same thing. Out of the blue we heard that he shot his wife and then shot himself. They were found in bed together. There was no explanation and nothing made sense, but it was without doubt a murder-suicide.

I keep going back to the house that was in the wife's name, and which was recently demolished. Maybe she made that decision on her own, and he had just learned about it. As a man in his mid-seventies, I think he could find it excessive to have to go through all the problems that they experienced with building the house where they were murdered. The house that was demolished is only a couple of blocks from the house that is for sale. They bought it at least a year ago, and only recently put their current house on the market. There must be a reason why they waited at least a year to put the house on the market, and to demolish the house two blocks away. The house activity seems to be the only recent thing that happened in their lives, and if the wife made the decisions without full agreement of the husband, that could have caused him to become so upset that he strangled her. Afterward, he would have realized that his life as a free man is gone, so he took his own life as well.

As for buying a house and leaving it for nearly a year...Toronto real estate is insane. If a house was for sale in their desired area I could easily see them buying it without having planned anything in advance. Maybe then needing to wait for a reputable contractor to do the project - also not uncommon. So I don’t make much of buying the property and leaving it that long. And again - owing a $7m home when you’re worth $4b+, none of this seems reckless.

 

[Doghairrules]

Its hard to imagine this case is the first time in history it has taken this long.

There is a chance a conclusion has been reached by forensics and it has yet to be signed off on by the investigators. They may also be keeping findings quiet out of respect for the family and for political appeasement.

Yeah, there was that case of the woman who called her family and told them she was kidnapped and in the trunk of her car. Police found her moments after a gunshot killed her. To my knowledge, they’ve never released the results of their investigation.

 

[Inthedetails]

Yeah, there was that case of the woman who called her family and told them she was kidnapped and in the trunk of her car. Police found her moments after a gunshot killed her. To my knowledge, they’ve never released the results of their investigation.

If I recall, LE did finally release results....it was deemed a suicide. There is a thread on WS about her.

jmo

 

[Doghairrules]

If I recall, LE did finally release results....it was deemed a suicide. There is a thread on WS about her.

jmo

I thought I was following the case, but apparently not. Thanks! I will go look it up.

 

[Midge Montana]

If I recall, LE did finally release results....it was deemed a suicide. There is a thread on WS about her.

jmo

Rita Maze, I think.

 

[kiwi50]

If, after the Shiva and other religious observances have occurred, we hear that the Sherman case has been closed, we will know it was a double suicide or murder/suicide done by Barry. Both are horrible for the family, as is this whole scenario.

I guess we will have to read between the lines. If the family aren’t yelling for the killer to be found, we have the answer. It seems a bit pointless to try and cover it up now. It is what it is. If murder/suicide it should be made public, if double suicide I can go along with the police clamming up now.

 

[Chorley8]

I guess we will have to read between the lines. If the family aren’t yelling for the killer to be found, we have the answer. It seems a bit pointless to try and cover it up now. It is what it is. If murder/suicide it should be made public, if double suicide I can go along with the police clamming up now.

d'Angelo's comments that police will look at security tapes and also will look at cell phone records to see who was having conversations outside the house will become more interesting if there are no such tapes and no such conversations. As for access we have any family members who had keys this staff person (if there was one) was present in the house the real estate agent etc.

 

[matou]

CP24: Toronto Police are doing a "sewer sweep" near the home tomorrow.

 

[Satchie]

What about if he murdered Honey. Wouldn't there be a coroner's inquest?

I don't think so, the case will be thoroughly investigated by the police, and there aren't any evident public policy or public services involved. An inquest wouldn't add anything. Here's the policy on when inquests are held in Ontario.
https://www.mcscs.jus.gov.on.ca/english/DeathInvestigations/Inquests/AidToInquests.html

I think it could be a long time before this case would be closed if they don't declare double homicide, a year at least. For one thing, there's just no rush, and they don't want to appear to be in a rush. Plus the benefit of waiting for new information to come to light, especially if private detectives are on it.

As well, wait till interest dies down and family become more accepting.

Edited to add, I think they might be required to report any death they rule as a homicide, but I can't find that policy.

 

[JDG]

CP24: Toronto Police are doing a "sewer sweep" near the home tomorrow.

Meaning what exactly? Its not on their website yet. Probably dotting their i's and crossing their t's due to alternate private investigation. JMO

 

[matou]

Meaning what exactly? Its not on their website yet. Probably dotting their i's and crossing their t's due to alternate private investigation. JMO

Not sure. CP24 reported this at the top of the hour as an update on the Sherman case.