I believe there is a better way to administer estates,
by:
Empowering executors and trustees, along with enabling their professional advisors, to honour the intentions of those that asked them to take on this role, optimize outcomes for the beneficiaries, and enhance the family legacy.
Leveraging innovative, proven technology, to transform how estates and trusts can be administered more efficiently and collaboratively.
Applying best practices from legal project management (LPM), to estates and trusts, to assist all involved in managing the complex process.
Layering in business pragmatism, to ensure it is managed cost-effectively and with a view to providing accountability for results.
Being proactive with potentially contentious matters, to get ahead of disputes and avoid wasteful, lengthy legal battles.
Tailoring advisory services to the specific requirements and family circumstances of each matter, to provide truly personalized services.
I founded Collective Agreement after going through the painful process of estate administration for a family member that lovingly named me as their executor. It was an honour to be asked, but it left me questioning why it was so onerous, expensive and took so long (and too many people) to get everything processed accurately.
My results-oriented business perspective, honed over years of leadership roles in private companies, and a bias for accountability, derived from my PricewaterhouseCoopers (PwC) professional experience, had me asking how I could've achieved better outcomes for all the beneficiaries and executors.
From my work with innovative startups over the past decade, I knew there the entire process could be handled much more effectively with purpose-built technology.
It led me to source the best platforms for estates and trusts and starting my consulting practice to provide clients and their advisors a more collaborative, cost-efficient approach to estate and trust administration.
With experience in commercial disputes and litigation along with an array of business-related issues (refer to my Practice Areas noted below), I'm typically referred to clients by legal, financial and tax advisors for more complex situations and estates/trusts prone to disputes.
FEE STRUCTURE
Collective Agreement operates with low overheads, working virtually and collaboratively, enabled by using the most advanced, secure technology platforms in the estates and trusts space. Services are provided by its principal advisor Bruce Young, CPA, CA, CEA; as required, contacted support services are engaged.
Fees are project-based, determined by the complexity and the scope of work, not as a percentage of the value of an estate/trust and aligned with client requirements (including payment, when fees need to be funded by the estate).
Collective Agreement's core value proposition is matching the most cost-effective resource to each element of work throughout the estate/trust administration process. For lawyers and other trusted advisors, this agile, lean fee structure generates significant cost savings for your clients.
Practice Areas & Experience
Estate & Trust Administration (Ontario)
Fiduciary Accounting for estates and trusts, including court reporting
Estate Strategy, integrating and aligning multiple planning structures
Estate/Trust Monitor, to ensure effective estate administration in contentious situations
Estate Trustee During Litigation (ETDL)
Commercial litigation, with extensive experience in Ontario and Delaware (inclusive of e-discovery and Sedona principles)
Family businesses, including intergenerational transfers
Small-to-Midsize Business (SMBs), including startups
Cross-border income tax issues
Intellectual Property (IP)
Dispute resolution
Kindly note I do not provide forensic accounting, business audits, valuations, or income tax services. When required, I refer any such work to other qualified CPAs who do. I also do not act as a mediator; rather, I help my clients prepare for and succeed at it.
Collective Agreement empowers executors and trustees to take a more active role in estate/trust administration, by combining innovative legal technology designed for estates and trusts professionals with a personalized, hands-on approach to guide them through all the complexities of the probate and trusteeship process.
A Good Fit For:
Clients named as an executor or trustee and want to retain the role, who would benefit from help with administering the estate/trust.
Executors and trustees, or their counsel, who require assistance with their fiduciary accounting requirements, including court-formatted reporting for passing of accounts.
Complex or contentious estates and trusts, to assist with dispute resolution or as an estate/trust monitor, and as needed client-based litigation support.
Advisors involved in estate planning, to help clients gather relevant details and for an objective perspective or client stakeholder alignment.
Client Stories (select dropdown)
Sharing a few good client stories (without names) and some nice endorsements (with their permission):
Estates are challenging for executors who do not have experience with them. My role is to be an executor(s) co-pilot, by their side to guide them throughout the entire journey.
"When our mother passed away, I was gobsmacked by the complexities of Ontario's probate process. Bruce stepped in, got the estate organized and arranged for a support team to assist with submitting the application. His pragmatic suggestions ensured it was processed without any hiccups, and he helped me keep my siblings informed throughout. His experience allowed me to honour my mother's wishes and my family is truly grateful." Brian Gladstone, Executor
Too often, executors and trustees opt out of administrating an estate, turning it over to a professional executor service, that charge up to 5% of an estate. For simpler estates, some are opting for one of the new 'do-it-yourself' apps that beginning to pop up. I position myself between the unguided DIY choice and turning the estate administration over to expensive professional services. No reason to go it alone, nor pay unnecessary fees for administration work that has been mostly automated.
"I highly recommend Bruce, not only for his excellent work but for his ability to reduce complex matters into addressable steps." Edna Lopez
Knowing over 95% of claims never make it to trial, dispute resolution happens through negotiations. I look to establish a 'dispute resolution' strategy from the outset of my role, to positioning the client for potential advantage in litigation and negotiations with a command of the issues, facts and an ongoing analysis of each side's BATNA*.
"If you're thinking about suing, or if you just got sued, you better call Bruce!" Mike Carr, CEO
For commercial matters, aligning all the decision-makers can be challenging. Uncovering all the facts and circumstances around a dispute enables an objective assessment, aligned to the company's risk profile and stakeholder interests.
"Thanks Bruce for your thorough work and helpful communication to all of us - it got us all on the same page!" Jim Brown, Independent Director
Family matters are inherently emotionally charged. I understand the special considerations required and from personal experience provide an empathic, objective support for family matters involving estates, matrimonial disputes and inter-generational business transitions. A rational assessment of options is required for negotiations to succeed; it requires data/facts-driven decision making and applying the BATNA* framework.
"Thanks to Bruce, we went into our negotiations clearheaded, anchored by a sound strategy. He helped us avoid litigation and move on, unshackled from a family member with a grudge." Pam & Elliot
* BATNA is the acronym for "Best Alternative To a Negotiated Agreement", that's defined as the most advantageous alternative that a negotiating party can take if negotiations fail and and agreement is not reached. The term that emerged from the book “Getting to Yes: Negotiating Without Giving In” (by Roger Fisher and William Ury); it's been embraced by many and covered extensively as part of Harvard Law School's Program on Negotiation [more about BATNA on their PON website].
Professional Registrations & Industry Affiliations
CPA, CA: Chartered Professional Accountants, Ontario
CEA: Canadian Institute of Certified Executor Advisors
EPCT: Estate Planning Council of Toronto
Downloadable overview
Collective Agreement Overview (v24b).pdf