CANADA Canada - Audrey Gleave, 73, Ancaster ON, 30 Dec 2010 #6

[flipflop]

I don't recall we ever heard anything about value of her appliances, furniture, belongings, etc. Do you have a link regarding that?

All I recall is talk about the value of her house, money in her bank account, Camaro, new convection oven and her beautiful snake ring.

No link, I took it from Dotr's post#410

The other speaker at the memorial was Lynne Vanstone, whom Audrey had appointed in her will as trustee. (The will lists her house at a net value of $425,000, and personal property at $50,622.87.)

to me personal property= personal belongings found in her house

Do you have a link that states she had 50K in the bank account?

 

[No_Stone_Unturned]

Not meaning to butt in here (please forgive me if that's how it looks :blushing but a few weeks ago we were at our financial planner's office. Thinking of soon-ish retiring, I asked straight out - 'What are we worth?'.

She named our homes, cars, and property. That's it. No mention of the things inside of our homes. Not even my grandmother's oil painting nor my hubby's extensive coin and comic book collection.

Not my jewellery either. Just what I've mentioned.

Did that help......or harm? :blushing:

 

[No_Stone_Unturned]

Oh, speaking of money - does LV now get Audrey's teacher's pension?

 

[Hazel]

No link, I took it from Dotr's post#410

The other speaker at the memorial was Lynne Vanstone, whom Audrey had appointed in her will as trustee. (The will lists her house at a net value of $425,000, and personal property at $50,622.87.)

to me personal property= personal belongings found in her house

Do you have a link that states she had 50K in the bank account?

Odd, I was going to quote NSU's latest post, but it has gone poof!

Like she said in that post, we learned about Audrey's money in her bank, most probably from discussions here on WS. Unfortunately, 3 threads have been pulled, with lots of links and info.

Flipflop, do you mean that you don't remember reading about that? I guess you haven't been following this case like some of us did. :/

 

[flipflop]

Not meaning to butt in here (please forgive me if that's how it looks :blushing but a few weeks ago we were at our financial planner's office. Thinking of soon-ish retiring, I asked straight out - 'What are we worth?'.

She named our homes, cars, and property. That's it. No mention of the things inside of our homes. Not even my grandmother's oil painting nor my hubby's extensive coin and comic book collection.

Not my jewellery either. Just what I've mentioned.

Did that help......or harm? :blushing:

My guess is that you are worth more than what you talked about.....for example if that extensive coin collection is worth $100,000, does that count for nothing?

Im just saying....personal property to me means anything that you own.

 

[No_Stone_Unturned]

Odd, I was going to quote NSU's latest post, but it has gone poof!

Like she said in that post, we learned about Audrey's money in her bank, most probably from discussions here on WS. Unfortunately, 3 threads have been pulled, with lots of links and info.

Flipflop, do you mean that you don't remember reading about that? I guess you haven't been following this case like some of us did. :/

Hazel the post went POOF because I deleted it. I felt it was it was redundant!! :floorlaugh:

What other three posts are you talking about, please?

 

[No_Stone_Unturned]

My guess is that you are worth more than what you talked about.....for example if that extensive coin collection is worth $100,000, does that count for nothing?

Im just saying....personal property to me means anything that you own.

From your post to God's ears!!

 

[Hazel]

Hazel the post went POOF because I deleted it. I felt it was it was redundant!! :floorlaugh:

What other three posts are you talking about, please?

:floorlaugh: now that explains it!

Three "threads" not "posts" NSU, meaning Threads #4, #5, #6

 

[Sillybilly]

In legal terms, property is broken down into 2 categories .. "real property" is the land and buildings, and "personal property" is everything else (includes all other assets, i.e. investments, $$ in bank, all other possessions).

ETA: Just a quickie link:

http://legal-dictionary.thefreedictionary.com/Estates+in+Real+Property

 

[flipflop]

Odd, I was going to quote NSU's latest post, but it has gone poof!

Like she said in that post, we learned about Audrey's money in her bank, most probably from discussions here on WS. Unfortunately, 3 threads have been pulled, with lots of links and info.

Flipflop, do you mean that you don't remember reading about that? I guess you haven't been following this case like some of us did. :/

I've been following, just not always having anything to say. I do remember talk of money in the bank and how we were surprised at the amount she had (50K) but cannot recall if we knew if the personal property amount included bank money or not.

 

[Hazel]

I've been following, just not always having anything to say. I do remember talk of money in the bank and how we were surprised at the amount she had (50K) but cannot recall if we knew if the personal property amount included bank money or not.

From what I can remember, we assumed the $50K was all bank money .... if that amount included personal property (as in belongings), then how little cash did AG had in the bank? We were already thinking $50K cash was too little

 

[No_Stone_Unturned]

More questions, this time about MONEY:

- Audrey would have had her monthly teacher's pension and her OAS

- did she have investments such as TFSA's, RRSP's, Canada Savings Bonds

- if so, where are they now

- she didn't seem like a wild spender

- did she have a savings account, a non-chequing account

- did she pay for handyman's education at Mac

???????????????????????????

 

[Woodland]

The Will does not state the value of anything.

The $50K is LV making a sworn statement to the court that between cash, investments, personal property (furniture, jewelery) that can be liquidated and turned into cash, AG had a net value of $50K. Real Estate value is separate.

 

[No_Stone_Unturned]

My guess is that you are worth more than what you talked about.....for example if that extensive coin collection is worth $100,000, does that count for nothing?

Im just saying....personal property to me means anything that you own.

I understand what you're saying now. All of our possessions ARE worth something........but not until we die and they go to the person(s) in our Will. (Grim thoughts......)

 

[flipflop]

The Will does not state the value of anything.

The $50K is LV making a sworn statement to the court that between cash, investments, personal property (furniture, jewelery) that can be liquidated and turned into cash, AG had a net value of $50K. Real Estate value is separate.

Would the 50K include the car too

 

[Sillybilly]

Would the 50K include the car too

Yes, and that's just plain weird. Guess the estate was undervalued .. possibly to avoid paying more taxes re administration of the estate.

I'm not up on Ontario's tax laws now, but (in a real quick preliminary search) here's someone addressing it in August 2010:

from:
http://estatelawcanada.blogspot.ca/2010/03/does-canada-have-death-taxes-or.html

Ontario EATs away with its tax on the estate of the deceased as follows:
-one half percent of the value of the estate above $1,000 and up to $50,000
-one and a half percent of the value of the estate above $50,000

 

[flipflop]

Yes, and that's just plain weird. Guess the estate was undervalued .. possibly to avoid paying more taxes re administration of the estate.

I'm not up on Ontario's tax laws now, but (in a real quick preliminary search) here's someone addressing it in August 2010:

from:
http://estatelawcanada.blogspot.ca/2010/03/does-canada-have-death-taxes-or.html

Very weird indeed. If you look around your house, do a quick add of what you have.......plus your bank/investments etc. ?????

For a retired teacher....I don't believe it.

Good suggestion about avoiding paying taxes.

 

[Sillybilly]

I wonder if LV offered PK a memento, or if PK asked for one, did LV give him anything at all.

 

[No_Stone_Unturned]

In Ontario, here's the way it usually goes:

1. The Will goes to a court by the/a lawyer.

2. The court takes a probate fee from the estate's money.

3. After this, the money can go to LV (in this case.)

The word "probate" is a nicer way of saying "court tax" for the Will.

Now, I have absolutely no idea how LV got the money, car and property so quickly!

:what:

 

[Woodland]

Have difficulty shaking the notion PK played a role somewhere.