Q:

What is the typical fee for using an estate executor in Ontario?

A:

Quick Answer

As of 2015, fees for using an estate executor in Ontario amount to 2.5 percent of the value of capital receipts, income receipts and distributions of capital and income. Additional fees of 2/5 of 1 percent of the average annual value of the assets applies for overall care and management.

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Full Answer

Executors are legally entitled to fair and reasonable compensation for administering an estate. If a will does not state a specific compensation amount or otherwise fails to define a method of calculation, statute and case law determine compensation. To determine what is considered fair and reasonable, courts look to the size of the estate, scope of responsibilities required and the time and skill displayed by the executor in administering the estate.

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