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Unfortunately, executor fees are not tax deductible to the estate in Canada. These are considered personal expenses and therefore arent eligible for tax benefits.
The use of a specific bequest in the will by the testator to the executor, in lieu of executors fees, can often be successfully utilized in avoiding personal tax for compensation.
ing to the act, the Estate executor cannot charge more than 5% of the estates gross aggregate value for remuneration. In addition to the executors fee, the executor can apply annually to the Court for a care and management fee for not more than 0.40% of the value of the managed assets.
Executor Compensation in Connecticut Most people in Connecticut will classify reasonable as between 3% and 5% of the total estate value and fiduciary fees of under 4% are generally considered reasonable by Connecticut probate judges.
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