Executor Compensation and Fees (NU)

The Nunavut Trustee Act specifies that executor compensation should be "fair and reasonable" for the services rendered, with the courts having final say about what is fair and reasonable.

Consideration Factors: The following factors are often considered in determining a fair and reasonable fee:

• Size of the estate
• Care and responsibility involved
• Time required
• Skill and ability demonstrated by the trustee
• How successful the trustee was

All else being equal, the larger the estate, the smaller the percentage fee, and the more effort and results, the greater the percentage.

Typical Base Fee: So, for example, a standard estate with gross assets of $600,000 might generate $19,500 in executor fees (i.e., 3.25%). This amount should be reduced or increased according to the consideration factors above, other than size, which has already been incorporated.

Annual Fee: For estates that take a significant time to settle, the court may also allow an executor to take an annual fee, typically something on the order of 0.4% of assets under management.

Extra Fee The court may also allow an additional fee for extraordinary services, such as overseeing the sale or lease of real estate, running a business, conducting litigation, preparing tax returns yourself, handling tax audits, and so on.

Exclusions: Note that assets which pass directly to named beneficiaries, such as life insurance policies, are generally not included in any of the above calculations.

See Trustee Act, RSNWT (Nu) 1988, c T-8 § 49.

EstateExec provides the following executor compensation estimator for NU estates, but please keep in mind that circumstances may vary, and that there may be special situations addressed by local custom or law. By using this estimator, you acknowledge that EstateExec provides any results as informational input only, not as legal advice, and cannot be held responsible for any inaccuracies for, or misunderstandings about, any given estate. See estimation methodology for calculation details.

You can use this calculator now, but if you use EstateExec to help you track the settlement process, it will automatically analyze your estate and suggest a value for the inputs below (you can create an estate for free).