Legal Question in Wills and Trusts in California
Trusts
Are the designated Trustees entitled to collect a fee for their
services? If so, how do they figure
out how much to charge?
2 Answers from Attorneys
Re: Trusts
This is usually stated in the trust itself. If not an amount, then a "reasonable" fee. Of course "reasonable" is subjective and on a sliding scale basis. If not mentioned at all, then they are generally entitled to compensation unless stated otherwise in the trust.
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Re: Trusts
Yes. Unless a specific amount or percentage is set forth in the trust document, it is "reasonable compensation"- usually 1% of the gross estate, or in the case of a corporate trustee, according to their published fee schedule.