Legal Question in Wills and Trusts in New Jersey
Successor Trustee's Fiduciary Fees
Is the fee schedule for executors of estates appropiate to use in determining fees for a successor trustee of a family trust when the estate has no assets, everything is left in the name of the trust and probate is not required?
If not what are the appropriate fees for a successor trustee, the trust does not set the fee.
Asked on 12/01/06, 6:08 pm
1 Answer from Attorneys
Walter LeVine
Walter D. LeVine, Esq.
Re: Successor Trustee's Fiduciary Fees
No! Executor commissions are based upon probate assets only (those covered by the Will). There is a separate fee schedule for trustees, which are slightly more complicated to calculate. If you contact me directly, I can assist you or direct you to the State web site where they can be found.
Answered on 12/02/06, 11:38 am
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