Executor Compensation Clause (Fee Agreement Referenced) (ON)

Summary

This clause is an executor compensation clause, which follows a paragraph appointing executors. It directed that fees, reimbursement, and other remuneration for services rendered with reference to a fee agreement be paid. This clause includes practical guidance and drafting notes. A trustee is entitled to such fair and reasonable allowance for their care, pains and trouble, and the time expended in and about the estate, as may be allowed by a judge of the Superior Court of Justice (Trustee Act, s. 61(1)). In determining appropriate compensation to the Estate Trustee, the courts consider the following five factors: • the magnitude of the trust; • the care and responsibility springing therefrom; • the time occupied in performing its duties; • the skill and ability displayed; and • the success which has attended its administration (Strickland v. Thames Valley District School Board, [2007] O.J. No. 3758(S.C.J.); Re McDougall Estate, [2011] O.J. No. 3327 (S.C.J.)). For more information on ...