ESTATE ADMINISTRATION LAWYER

 

I believe the fairest way to set legal fees is not simply upon the size of the estate (which was primarily done in the past by lawyers and still is used by some lawyers and the Ontario government’s Public Guardian and Trustee), but upon the work required to administer the estate. I therefore have developed an Estate Fee Schedule where I have set out the tasks to be completed (it is also a good checklist of what has to be done).

For larger estates (over $500,000) I often charge an extra amount based upon the size of the estate because of my higher liability involved and the ability to pay. The Estate Fee Schedule sets out who could be responsible for each task, either the client or the lawyer, as well as the cost for each task. The cost is based upon the work that generally must be done to complete the task. Therefore, at the beginning of an estate file, the client and I will decide who is responsible for each task, and from that the fee will be calculated. Some stated tasks will incur extra costs for additional work above and beyond what is normally required, for example when additional advice and time is required at the initial consultation.

A client who wants to do some of the work him or herself can therefore save money by having me do certain portions of the administration, such as gather the general information and apply for probate. The client can then take the administration from there.

  • Initial contact and consultation

  • Setting up the Estate Bank Account

  • Letters to Government Departments

  • Application for Appointment of Estate Trusee

  • Completing the EState Administation Tax Form

  • Applicaiton for Canada Pension Plan Benefits

  • Transfer of Real Estate to Estate Trustee Beneficiary or Joint Survivor

  • Transfer of Monetary Assets

  • Transfer of Automobile

  • Arrange for payment of Life Insurance

  • Arrange for Transfer of RRSP’s

  • Arrange for Receipt of Pensions and Annuities

  • Sale of property or business

  • advertise for creditors

  • payment of debts

  • Defending a claim agaist the estate

  • income tax

  • obtaining final tax Clearance Certificate

  • Reporting and Obtaining Releases from the benificiaries

  • Valuation of the Estate

  • Secretarial work

  • Reporting on the Estate