Can my sister charge a trustee fee of $13,000 on an estate only worth about $350,000?
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Can my sister charge a trustee fee of $13,000 on an estate only worth about $350,000?
Is this fair?
Asked on November 10, 2015 under Estate Planning, California
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
The trustee fee arrangement varies depending on the state fee schedules for trustees and the specific terms and conditions written out by the maker of the Trust. Under CA law, in the situation in which a Trust does not specify how much the trustee is to be compensated, they would be entitled to "reasonable compensation under the circumstances". A rule of thumb used by some estate planning attorneys is to annually compensate the trustee 1% based off of the Trust's total value.
If you deel that the fee is excessive based on thepwork performed by your suister, you can bing the matter to the attention of the court.
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