Report on Statutory Remuneration of Trustees and Trustees' Accounts

British Columbia Law Institute Report, No. 7, 1999

29 Pages Posted: 23 Jun 2009

Date Written: April 1, 1999

Abstract

This report contains recommendations for changes to the British Columbia Trustee Act dealing with remuneration of trustees and related matters. In all provinces and territories of Canada, trustees and personal representatives (executors and administrators) have a statutory right to receive remuneration for their services from the trust or estate. Statutory remuneration in British Columbia takes the form of an allowance under the Trustee Act from the trust capital (the original trust property) and income, with a ceiling fixed by statute. Within that ceiling, the court is directed to allow an amount it considers fair and reasonable. The Trustee Act also provides for a 'care and management fee.' Much of the law and procedure surrounding statutory remuneration of trustees in British Columbia is needlessly complex and outdated.

Keywords: trusts, trustees, Trustee Act, fees, remuneration of trustees, trustees' accounts, wills, estates, life planning, accounting, passing of accounts, calculating remuneration, Trustee Act Modernization

Suggested Citation

Law Institute, British Columbia, Report on Statutory Remuneration of Trustees and Trustees' Accounts (April 1, 1999). British Columbia Law Institute Report, No. 7, 1999, Available at SSRN: https://ssrn.com/abstract=1423930

British Columbia Law Institute (Contact Author)

British Columbia Law Institute (BCLI) ( email )

1822 East Mall
Vancouver, British Columbia V6T 1Y1
Canada

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
44
Abstract Views
461
PlumX Metrics