Legal Question in Wills and Trusts in Missouri

Trustee fees

My husband is Trustee for his mother's Trust. She passed away 10 yrs. ago, but specified no disbursements till her children were 55. My husband has been managing these investments for many years. We recently were advised that he can take a fee for his years of Trustee service based on a percentage of the Trust. His family is challenging this. Can he take a fee as a family member Trustee?


Asked on 1/31/07, 10:26 am

1 Answer from Attorneys
Penny Umstattd-Cope The Umstattd-Cope Law Firm, LLC

Re: Trustee fees

The general answer is yes unless the trust document specifies otherwise. If the trust document says the trustee does not get a fee, the trustee will not get a fee unless challenged in court. Your husband needs to have an attorney review the trust document and if a fee is allowed, to figure out how much.

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Answered on 1/31/07, 12:42 pm


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