Is the market or taxable value of property used to determine a trustee’s fee?
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Is the market or taxable value of property used to determine a trustee’s fee?
There is a small bank account and a house in the Trust. Is the 1 fee based on the taxable value or market value of the house?
Asked on October 15, 2016 under Estate Planning, Florida
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
The market value, since that is the actual value of the asset (for example, what you would sell it for). The taxable value often has little or nothing to do with what the property is worth, and is only relevant for tax purposes.
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