Trustee Compensation – Page 2

WHAT ABOUT A CORPORATE EXECUTOR?

Steven Frye • July 14, 2020 • 1 Comment

A lot has been written about how should choose an executor, and some of it in this blog place. A couple of years ago, fellow boggler Emily Hubling wrote eloquently about the risk and rewards of appointing a professional advisor as executor. I would like to revisit some of the points made in the context of appointing a corporate executor, some who is specifically skilled and trained for the role…..

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Attorney Compensation, Compensation, Credibility, Estate Administration, Estate Administration and Probate Applications, Estate Planning, Executors, Fiduciary Professions, Trustee Compensation, Trusts, Uncategorized, Wills

Hidden Fees – A Breach of Trust

Gillian Fournie • March 4, 2020 • 0 Comments

Registered accounts are often set up as express trust accounts, with the bank acting as trustee and the account holder as beneficiary. In these cases, banks are subject to all the same fiduciary duties and responsibilities that apply to all trustees – meaning they cannot charge hidden fees…..

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Compensation, Contracts, Estate Litigation, Fiduciary Professions, Passing Of Trustees’ and Executors’ Accounts, Trustee, Trustee Compensation, Trusts

Can You be Removed as a Trustee Without a Replacement?

Steven Frye • December 17, 2019 • 0 Comments

The recent case of Novak v. McDougall, (2019 SKQB 261), confirms that when you have accepted an appointment to be trustee, you may not be able to have yourself removed from that appointment without a suitable replacement. The applicant in this case, a beneficiary of a “Henson” trust (basically defined as being entitled to distributions from a discretionary trust but having no vested interest in the trust assets) set up….

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Capacity Law, Contested wills, Costs, Credibility, Estate Administration, Estate Litigation, Executors, Family Conflict, Guardianship, Passing Of Trustees’ and Executors’ Accounts, Resulting Trust, Trustee, Trustee Compensation, Trustee Disputes, Trusts, Uncategorized, Wills

Resulting Trusts and Summary Judgment Motions

Gillian Fournie • October 9, 2019 • 0 Comments

With its sandy beaches, hiking trails, canoe routes, and wildlife, the Town of Wasaga Beach is a well-loved Ontario vacation destination. However, no town, however idyllic, is immune to lengthy property disputes, especially when the two people fighting are related to each other. Brother A and Brother B were at odds with each other over the beneficial ownership of a house in Wasaga Beach. Brother A was on title to….

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Compensation, Cottage, Family Conflict, Loans, Probate Tax, Property, Real Estate, Resulting Trust, Tax Issues, Trustee Compensation, Trusts

Executors Remuneration

Steven Frye • April 10, 2018 • 2 Comments

Occasionally, I (like many of fellow bloggers for sure) get asked – what is appropriate remuneration for an executor or executrix to administer an estate – often in circumstances where remuneration is not specified or even referred in the deceased’s will or otherwise. Bottom line, what are the guidelines and how much is enough? A recent court case in the Supreme Court of British Columbia Le Gallais Estate (re) 2108….

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Estate Administration, Estate Administration and Probate Applications, Estate Litigation, Executors, Passing Of Trustees’ and Executors’ Accounts, Trustee Compensation, Uncategorized, Wills

Friends Helping Friends – Then Forgetting About It

Gillian Fournie • May 3, 2017 • 1 Comment

When asking a friend for a financial favour, people often fail to document their actions and decisions as thoroughly as they should – the trust people have in their friends frequently translates into a belief that they do not need to pay attention. Regardless of whether the trust was deserved, disputes may arise. In those circumstances, you can only hope that your spouse was paying attention while you were not…..

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Attorney Compensation, Compensation, Credibility, Property, Real Estate, Spouse, Trustee, Trustee Compensation