My topic two weeks ago was how lucrative executor work can be. There’s another side to that coin.

First, a reminder of why executor work can be lucrative. There’s no mention of executor fees in most of the wills I’ve reviewed. When the will is silent about executor fees, section 88(1) of the Trustee Act kicks in, entitling the executor to remuneration “…not exceeding 5%...”. That’s a maximum. A more likely court-endorsed executor fee is in the range of 3%.

When I was growing up, a millionaire was thought of as “Richie Rich”. Today, the average price of a detached home in Kelowna is more than $1 million. With only the home considered, executor fees would be a whopping $30,000.

For a much lower estate, perhaps where the estate consists solely of a mobile home worth $150,000,........

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