Legal Question in Wills and Trusts in New York

Successor Trustee Fees

In NYS is the successor trustee entitled to take an admin fee for administering the trust and dividing and disbursing the assets to the beneficiaries? In this case the successor trustee is also a beneficiary.


Asked on 1/19/07, 4:16 pm

1 Answer from Attorneys

Walter LeVine Walter D. LeVine, Esq.

Re: Successor Trustee Fees

Any fiduciary, including a successor trustee, is allowed to take the appropriate commission, subject to the terms and provisions of the appointing document. This applies to beneficiaries, as well as non-beneficiaries who are appointed under the document.

Read more
Answered on 1/19/07, 5:32 pm


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in New York