In providing services, the Estate Trustee has a number of tasks to complete and there is both time and expenses incurred in the process. The Estate Trustee should keep track of the time that they spend working on the various tasks, and the expenses they incur, whether that be for travel, long distance phone calls, or any other related expenses, as these amounts may be deducted from the funds of the estate. The amounts deducted from the estate, as direct expenditures, are under the category of “reimbursements”. 

However, there may be charges to the estate for fees for time spent, or fees for services. If there are fees for services, they would be deemed as income for income tax purposes. This does not apply for recovery of actual expenses. At Estate Lawyers Mississauga, we will guide you and provide services related to your legal obligation as Estate Trustee as well as recovering your costs and being paid for your services.