Can an executor start charging my trust fees if he has waived them for the last 10 years?
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Can an executor start charging my trust fees if he has waived them for the last 10 years?
I have elected to remove the corporate trustee of my trust and move the money to another trust company. The executor doesn’t like the idea but I have the legal right to do so. He wants to charge executor fees now since I am moving the money. He has waived his fees since my father passed away over 10 years ago. He is doing it out of spite. Can he come back and start collecting fees now?
Asked on June 27, 2012 under Estate Planning, Missouri
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
It is entirely permissible for the person who has been the trustee under the trust to now charge fees given the change when in the past the fees had been waived.
Custom and practice is for such a trustee to be paid certain compensation for overseeing the trust he or she has been assigned to look over.
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