Is an executor entitled to be paid in New Brunswick, and how much?
This answer covers the law of New Brunswick.
Generally yes, an executor can be paid, but the amount must be fair and reasonable rather than whatever the executor chooses. In New Brunswick the Trustees Act applies to personal representatives for its compensation and accounts provisions. Under those provisions, fair and reasonable compensation is payable and the court may fix it.
Pay comes out of the estate, and the law sets an order of payment in which personal representative commission comes last, after funeral expenses, tax and probate fees, solicitors' costs, wage claims and personal representative liabilities. Anyone interested in the estate can ask the Court for a citation requiring the executor to pass accounts, which include a full inventory and statements of money received, disbursed and remaining. The court may also order accounts passed under the Trustees Act.
How much is reasonable depends on the size and complexity of the estate and the work actually done, so there is no single figure to rely on. Keep a record of your time and tasks, because accounts may be requested. Before you pay yourself, it is worth confirming the amount with a lawyer or accountant.
Key takeaways
- The Trustees Act's compensation rules apply to personal representatives, and under them fair and reasonable compensation is payable and the court may fix it.
- Personal representative commission comes last in the order of payment from estate assets.
- Any person interested in the estate may apply for a citation ordering the executor to pass accounts.
- What is reasonable depends on the estate and the work done, so confirm the amount with a lawyer or accountant before paying yourself.