Legal Question in Wills and Trusts in Nevada

Successor Trustee Fees

In January 2003 my uncle was put in a nursing home and has been claimed incompetent by two doctors.I am the successor trustee of his living trust and am the sole beneficiary of his estate.His wife has already passed and they had no children.The trust states that ''the successor trustee shall be paid a reasonable value for their services''.I'm wondering what ''reasonable'' is?Can I pay myself for the year that has already passed?I have been taking care of all his financial affairs, cleaning out his home, selling his home, etc.His estate is valued at approx. $600,000. Can I reimburse myself for trips to see him and lost wages? Do I just write myself a check?


Asked on 12/08/04, 1:35 am

2 Answers from Attorneys
James Smith James E. Smith Ltd.

Re: Successor Trustee Fees

Just write a check.

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Answered on 12/08/04, 9:10 am
Paul Malikowski Malikowski Law Offices, Ltd.

Re: Successor Trustee Fees

Nevada law requires period accountings regarding nontestamentary trusts, as set forth here: http://www.leg.state.nv.us/NRS/NRS-165.html#NRS165Sec135 Your attorney, who can be hired and paid by the trust to provide legal advice under most trust instruments, can explain further.

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Answered on 12/08/04, 3:09 pm


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