Legal Question in Wills and Trusts in Florida
How is trustee compensation figured in the state of Florida? Is there such a thing as a flat rate or fee, rather than a percentage? If so, what does it include? Does it take include compensation for mileage, gas, and travel expenses?
Asked on 5/16/16, 4:55 pm
2 Answers from Attorneys
David Slater
David P. Slater, Esq.
If the trust does not specify, then the test is "reasonable under the circumstances" Per FS 736. I would think that includes mileage, gas and
reasonable travel expenses.
Answered on 5/16/16, 5:09 pm
Barry Stein
De Cardenas, Freixas, Stein & Zachary
It is subject to terms of the trust and negotiation. Expenses are charged in addition to fees. Reasonable under the circumstances is the prevailing rule
Answered on 5/16/16, 5:20 pm
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