As-needed Services

We often help families in need by agreeing to act as the estate trustee.

In this role, we handle the entire estate, from probate to final distribution.

We are usually asked to be the estate trustee when there is no suitable family member or relative to fulfill the role.  For instance, if:

• There is a dispute among family members as to the most suitable person to act;
• The estate is complex, and includes business assets or litigation with third parties;
• There are no family members available or suitable – for instance, whether there is no will and no family member resides in Ontario; or
• The finances of the deceased were being administered by the Public Guardian and Trustee as guardian.

Our fees & disbursements

When we act as estate trustee the beneficiaries do not have to advance or pay anything. Our fees are paid entirely from the estate.  Equally, we ensure that all expenses, including the estate administration tax, are paid from the estate.

Our fees are usually 5% + HST of the value of the estate.  For estates that have higher values without undue complexity or risk, we employ this scale:

• 5% of the first $500,000
• 4% of the second $500,000
• 3% of all amounts above $1M

Reasonable legal fees are in addition – usually, this includes our regular fee schedule amount for the probate application necessary to secure our appointment ($2,750 + HST).

Our minimum charges are $10,000 + HST inclusive of legal fees for most estates, and $7,750 + HST applicable to ‘one bank account, no income tax arrears’ estates.

Reasonable expenses, including realtor fees, accounting fees, and of course all debts including income taxes, are paid from the estate separate from our fees.

Naming us the executor in your will

We are frequently approached to be named as executor in wills being currently drafted.  We are willing to be so named if you wish, however, we stress the following:

• We strongly prefer to be able to act as sole trustee, not as a co-trustee with another person
• You must name an individual lawyer, not the firm as the firm cannot be an estate trustee.
• We hope that you will live much longer than our lawyers will continue to practice law. Accordingly, you must have considered the possibility that the named lawyer will be ‘unable or unwilling to act’ as estate trustee.  You should name an alternate who can act if the named lawyer cannot.
• We strongly encourage you to consider naming a trust company as your estate trustee. Trust companies are the only corporations that can act as estate trustees, and thus are the only executors with an indefinite life span who can be counted on, to be ready and willing to act when needed.

We do not charge fees for being named in the will. We will charge reasonable fees to the estate for acting as estate trustee of 5% of the value of the estate

We do not act as trustee for long-term trusts or as attorney for property or personal care

We do not administer long-term trusts such as testamentary trusts for minor children or Henson Trusts for disabled adult children.

Furthermore, we do not act as an attorney for property or an attorney for personal care, as these require different firm capabilities, staff, and structures.

We can refer you to trust companies or lawyers who regularly fill these roles and who can assist you and your family.