Legal Question in Wills and Trusts in California

Re: Trustee Compensation

Well let's start with compensation factor. Like attorneys and executors and probated estates, the probate code sets the maximum allowable to a trustee for administration of the trust for ordinary fees at 1 percent of the gross amount of the trust. Now if the trustee needed to do extraordinary services, such is the sales of real property, special investments, etc. application should be made to the probate court to get approval unless all of the heirs approve without the need for a petition. In this situation your question is somewhat ambiguous but it appears that the state has been open for three years and the funding has not been made or all but 15 percent has not been made. At least understand the statute of limitations for automating a tax return, individuals or estates, is three years in the date of the filing of the return. Therefore if it is now more than three years since the last returns were filed for the estate and/or personal returns of the decedent, distribution should be made immediately. Moreover, those funds should have been earning interest and therefore distribution of all interest should be made in a proportionate manner. I hope this helps you and answers your question.i have been practicing law in this speciality for over 30 years in the san francisco bay area and if you wish to consult with me you can contact me at 925-945-6000.