Three times a year I update this published text. With permissions, I have posted this Publisher’s Note. What’s New in the May 2021 Release • Chapter 16: Will Challenges In Magnotta v. Magnotta, 2020 CarswellOnt 1096, 2020 ONSC 316 (Ont. S.C.J.), the court stated estate creditors that have no financial interest…
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Are you like Jack? He wanted to handle an estate as an executor. He expected to take a fee for his services. But helping yourself to big fees can get you into hot water. The will can specify what your fees are. But what if it does…
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How much do executors get paid? The amount of your compensation depends on the time and trouble involved. Your compensation is treated as taxable income by the CRA. In Ontario, executor compensation, as a rule of thumb, is 2.5% of the capital and income receipts plus 2.5%…
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Does an executor get paid? Executor fees are referred to as compensation. The law entitles you to claim compensation for your care, time, trouble, and services. Usually, this includes reimbursements for your expenses and reasonable professional fees. Executor expenses – these are paid first and include travel…
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“Compensation for your time and trouble” is what the law calls your fee as estate executor. You can probably figure your time is productively worth $150 or $200 an hour back in the office. You need that to cover your overhead. Well, you won’t get paid by…
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