Legal Question in Wills and Trusts in North Carolina

Re: Power of Attorney

First it depends on the language of the power of attorney and what your powers are.

Typically, I would say you certainly are entitled to repay yourself for anything you buy on his behalf - clothes, stamps, etc. If you hired someone to file taxes, you would certainly pay them. I would guess but am not sure without researching that mileage to take care of his business could fall in that category using the IRS calculation of the per mile cost. Not sure about time away from work or just general value of your time. That might fall under compensation.

The statute says - NCGS 32A-11(c):

In the event that any power of attorney executed pursuant to the provisions of this Article does not contain the amount of compensation that the attorney-in-fact is entitled to receive or the way such compensation is to be determined, and the principal should thereafter become incapacitated or mentally incompetent, then, subsequent to the principal's incapacity or mental incompetence, the attorney-in-fact shall be entitled to receive reasonable compensation as determined by the clerk of superior court after considering the factors set forth in G.S. 32-54(b).

32-54(b) says

(b) All of the following factors shall be considered in determining reasonableness of compensation:

(1) The degree of difficulty and novelty of the tasks required of the trustee.

(2) The responsibilities and risks involved.

(3) The amount and character of the trust assets.

(4) The skill, experience, expertise, and facilities of the trustee.

(5) The quality of the trustee's performance.

(6) Comparable charges for similar services.

(7) Time devoted to administering the trust.

(8) Time constraints imposed upon the trustee in administering the trust.

(9) Nature and costs of services delegated to others by the trustee.

(10) Where more than one trustee is serving, the reasonableness of the total fees paid to all trustees.

(11) Other factors which the trustee or the clerk of superior court deems to be relevant. (2004-139, s. 2.)