(This is an edited version of our Client Guide that provides general information and is made available to our clients to assist them to understand the process for compensation of attorneys acting under a power of attorney in Ontario. This is not intended to constitute legal advice, which by its nature is situation specific. If you have questions about a specific legal problem involving compensation for attorneys, you should consult a lawyer who will provide legal advice only after reviewing all the facts relevant to your situation before providing that advice, rather than relying on the general information provided in this Guide.)

As part of the revision of the law regarding powers of attorney, the government has established a payment schedule based on similar compensation for executors established by the courts. However, the amounts allowed for attorneys are somewhat higher. Although many family members perform the services of an attorney without compensation, in some cases the amount of work is considerable and may disproportionately fall on family members.

The government schedule, based on the value of property administered by the attorney, allows a fee of :

3% on capital receipts

3% on capital disbursements

3% on revenue receipts

An annual care and management fee of 3/5 of 1% on the gross value of the assets being administered by the attorney

   FURTHER QUESTIONS

Any questions? If you have any questions about compensation for attorneys acting under a power of attorney, please contact us at:

W. Bruce Drake

Hooey · Remus

Telephone: (416) 362-2051

Facsimile: (416) 362-3646

Suite 400, 1 University Avenue

Toronto, Ontario M5J 2P1

 

eMail: bdrake@hooeyremus.com

Website: www.hooeyremus.com

This page was originally created on November 23, 2000 and was last updated August 31, 2001.

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