What are considered to be reasonable trustee fees for a family trust?
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What are considered to be reasonable trustee fees for a family trust?
Handling the liquidation and distribution of a family trust now that the surviving spouse is deceased.
Asked on July 6, 2011 under Estate Planning, Wisconsin
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
Trustee fees differ from state to state and can be free depending on who the trustee is. If you hire an attorney to be the trustee, think about how long the trustee will be needed and who you would be your back up trustees. Talk to the court and see if there are any brochures concerning administration of wills that may tell you whether or not executors of wills can charge fees and if there are rate caps or if the fees depend on a percentage of the size of the estate or complexity of the estate or both. Your state bar may have consumer guidelines, as well. Local bar associations that specialize in trust administration may also help you, as well.
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