Reading Time: < 1 minute

This paper was originally delivered by Raymond Murray and Kris Ade as part Part 3 of the LSO’s CPD program on Estate Accounting and Passing of Accounts on Wednesday January 26, 2021.

Being an estate trustee can feel like a thankless task. Depending on the size of the estate, the
number of beneficiaries involved, and the complexity of the estate plan, the estate administration
may be quite challenging. What adds further angst is that many trustees are performing these duties
for the first time and are held to a fiduciary duty to act in the estate’s best interests. Perhaps this is
why legislatures, including Ontario’s, have opted to override the prohibition in equity on trustees
profiting from their trusteeships by statutorily entitling trustees to compensation for their work on
behalf of the trusts under their administration.

Click here to read the full article: Improving Chances of Succeeding in Claims for Estate Trustee Compensation

Author(s)

This content is not intended to provide legal advice or opinion as neither can be given without reference to specific events and situations. © 2021 Nelligan O’Brien Payne LLP.

Have Questions?

Enjoy this article?
Don’t forget to share.
Share on facebook
Share on twitter
Share on linkedin
Share on email

Related Posts

Estates Law
Blog
Reading time: < 1 mins
Replacing An Estate Trustee When He Or She Is Still Alive (Without Resorting to Litigation)
This paper was originally delivered by Raymond Murray and Kris Ade as part Part 3 of the CCLA Solicitors Conference[...]
Estates Law
Articles
Reading time: 4 mins
A Cautionary Tale: Plan ahead to designate the beneficiaries for your Ontario Pension
As you approach the later years of life, it is important to meet with a lawyer to have a Will drafted so you know exactly what is going to happen to your assets when you pass away. One issue that should be canvassed during this meeting is your Ontario Pension plan beneficiary designation.
Estates Law
Articles
Reading time: 4 mins
What problems are you creating if you die without a Will?
Getting your Will drawn up is not always an easy process. It can require a lot of thought and consideration,[...]