Sentences with phrase «estate trustee compensation»
An Ontario judge has cast doubt on the common practice of determining estate trustee compensation and legal fees on the basis of fixed percentages.
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These include: whether the practice should be wound up or preserved for sale, compensation for the replacement lawyer, making arrangements for the replacement lawyer's access to trust and general accounts, creation of a power of attorney to support the transition, and the appointment of the replacement lawyer as estate trustee for the planning lawyer's practice.
Such professionals would be paid from compensation due to the estate trustee for their work from the estate.
Estate debts include not only the debts of the deceased (for example, unpaid credit card or utility bills), but the costs of administering the estate (accounting fees and compensation for estate trusEstate debts include not only the debts of the deceased (for example, unpaid credit card or utility bills), but the costs of administering the estate (accounting fees and compensation for estate trusestate (accounting fees and compensation for estate trusestate trustees).
the amount of compensation claimed by the estate trustee for her work in administering the estate.
In a recent passing of accounts case, the court reduced the estate trustee's compensation for the following reasons: — No compensation should be charged on investment losses listed as capital disbursements; — The costs connected to the sale of real property (real estate commission, property taxes, and legal fees) are not to be included when... read more
If, however, the demands on the person's time and the possibility of conflicts of interest are not substantial, such a person may continue to act, without compensation, as an executor, administrator, trustee, or other fiduciary for the estate or person of one who is not a member of the person's family if terminating the relationship would unnecessarily jeopardize any substantial interest of the estate or person and if the judicial council of the circuit approves.