Quote:
Originally Posted by Sliver
I went low end of the 3-5% rule of thumb based on the situation in my family. I feel I'm low-balling myself somewhat, but there is a side of me that's helping out from the goodness of my heart since I'm the only one competent enough to do it.
In your shoes? I'd be at 5% for sure.
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If the Court had to approve a formal accounting, 3% would be standard, 4% would be for a difficult and complex estate, 5% if there was a litigation component.
https://www.canlii.org/en/ab/laws/re...-130-1995.html
Factors to be considered
2 The following factors are relevant when determining the compensation charged by or allowed to personal representatives:
(a) the gross value of the estate;
(b) the amount of revenue receipts and disbursements;
(c) the complexity of the work involved and whether any difficult or unusual questions were raised;
(d) the amount of skill, labour, responsibility, technological support and specialized knowledge required;
(e) the time expended;
(f) the number and complexity of tasks delegated to others;
(g) the number of personal representatives appointed in the will, if any.
Additional compensation
3 Additional compensation may be allowed when personal representatives
(a) are called upon to perform additional roles in order to administer the estate, such as exercising the powers of a manager or director of a company or business,
(b) encounter unusual difficulties or situations, or
(c) must instruct on litigation.