Acts and Regulations

2015, c.21 - Trustees Act

Section 63
Disposition versions

Full text
Compensation of trustee
63(1)A trustee is entitled to fair and reasonable compensation to be paid out of the trust property for services rendered as trustee of the trust.
63(2)As part of the compensation to which a trustee is entitled under subsection (1), a trustee is entitled to charge fees at reasonable rates for those services that are reasonably necessary for the purpose of carrying out the trust if the trustee
(a) has professional skills, and
(b) has rendered services to the trust, apart from those generally associated with the office of trustee, that required the exercise of those professional skills.
63(3)Each trustee is not presumed to be entitled to equal compensation under subsection (1).
63(4)On application by a trustee during the administration of the trust or on the passing of accounts, the court may determine the amount of compensation to which the trustee is entitled under subsection (1).
63(5)In determining a trustee’s compensation, the court may consider the following:
(a) the gross value of the trust property at the time compensation is claimed;
(b) any change in the gross value of the trust property since compensation was last claimed or the trust was created and the portion of that change attributable to decisions of the trustee;
(c) the amount of revenue received and expenditures incurred in administering the trust;
(d) the complexity of the work involved in administering the trust, including whether or not any difficult or unusual questions were raised;
(e) any unusual difficulties or situations encountered in administering the trust;
(f) whether or not the trustee had to instruct on litigation relating to the trust;
(g) whether or not the trustee was required to manage a business, be the director of a corporation or perform other additional roles in administering the trust;
(h) the amount of skill, labour, responsibility, technological support and specialized knowledge required in administering the trust;
(i) the number and complexity of tasks relating to the administration of the trust that were delegated to others;
(j) the time expended in administering the trust;
(k) the number of trustees; and
(l) any other matter that the court considers relevant.
63(6)A trustee may make an application under subsection (4) even if the trust instrument provides for the determination of the amount of compensation.
63(7)Subsection (4) does not authorize the variation of a contract with respect to compensation between a settlor and a trustee if the contract is not part of the trust instrument, whether or not the contract is incorporated by reference in the trust instrument.
Compensation of trustee
63(1)A trustee is entitled to fair and reasonable compensation to be paid out of the trust property for services rendered as trustee of the trust.
63(2)As part of the compensation to which a trustee is entitled under subsection (1), a trustee is entitled to charge fees at reasonable rates for those services that are reasonably necessary for the purpose of carrying out the trust if the trustee
(a) has professional skills, and
(b) has rendered services to the trust, apart from those generally associated with the office of trustee, that required the exercise of those professional skills.
63(3)Each trustee is not presumed to be entitled to equal compensation under subsection (1).
63(4)On application by a trustee during the administration of the trust or on the passing of accounts, the court may determine the amount of compensation to which the trustee is entitled under subsection (1).
63(5)In determining a trustee’s compensation, the court may consider the following:
(a) the gross value of the trust property at the time compensation is claimed;
(b) any change in the gross value of the trust property since compensation was last claimed or the trust was created and the portion of that change attributable to decisions of the trustee;
(c) the amount of revenue received and expenditures incurred in administering the trust;
(d) the complexity of the work involved in administering the trust, including whether or not any difficult or unusual questions were raised;
(e) any unusual difficulties or situations encountered in administering the trust;
(f) whether or not the trustee had to instruct on litigation relating to the trust;
(g) whether or not the trustee was required to manage a business, be the director of a corporation or perform other additional roles in administering the trust;
(h) the amount of skill, labour, responsibility, technological support and specialized knowledge required in administering the trust;
(i) the number and complexity of tasks relating to the administration of the trust that were delegated to others;
(j) the time expended in administering the trust;
(k) the number of trustees; and
(l) any other matter that the court considers relevant.
63(6)A trustee may make an application under subsection (4) even if the trust instrument provides for the determination of the amount of compensation.
63(7)Subsection (4) does not authorize the variation of a contract with respect to compensation between a settlor and a trustee if the contract is not part of the trust instrument, whether or not the contract is incorporated by reference in the trust instrument.