Legal Question in Wills and Trusts in California

Check your trust document. Normally a trust document would specify the trustee fees. If not, then you are entitled to a reasonable fee, based on probate code 15681. What is reasonable depends on the asset of the trust. Typically, a 0.75-1.25% of total asset, or $5000, whichever is greater, is considered reasonable.

You do not have to send everyone an accounting. You should keep an accurate accounting and prepare to show to anyone who may ask for it.

Unless waived by the trust instrument or the beneficiaries, you do have a duty to account to the other beneficiaries. See Probate Code Section 16062-4.

It is always best to be cautious, even if the law does not require it. You do need to send an accounting to all beneficiaries but should also consider sending it to people who think they have an interest in the trust even though they do not.

I agree with Mr. Shers and Ms. Cusack. You do have the duty to account to the beneficiaries under the Probate code. The accounting should show all the assets at the begining of the accounting period plus any income, such as interest, that the estate may have earned during the accounting period. You should also include all expenses and debts paid with the resulting balance that is left to distribute (minus your fees, of course).

All beneficiaries should receive a copy of your accounting. The fee your considering certainly seems reasonable. Ordinarily though, the fee is based on the total assets of the trust rather than just what is left.