ARTICLE · 08 JULY 2024

Taxation Of Executor Compensation

Mills & Mills

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Executors play a crucial role in administering a deceased person's estate, ensuring that assets are distributed according to the will and handling various legal and financial responsibilities.

CanadaFamily and Matrimonial

Executors play a crucial role in administering a deceased person's estate, ensuring that assets are distributed according to the will and handling various legal and financial responsibilities. In Ontario, executors are entitled to take compensation for the work completed in the process of fulfilling these duties. The compensation they receive for their services is subject to guidelines set by the provincial legislation. Under Section 61(1) of the Trustees Act, a Trustee "is entitled to such fair and reasonable allowance for the 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".

Executor Role and Taxes

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