Legal Question in Wills and Trusts in California
How much should a fiduciary charge per month, doing nothing more than paying bills (4) given a $200,000 beneficiary trust to handle
AND
What consitutes fraud in regards to handling funds, ie: liquidating then depositing in wrong bank account- $500 check bounced when funds should have been $60,000, stopped returning return calls
& emails,told beneficiary to sign doc releasing fiduciary of any liabilities or no more funds will be distributed.
1 Answer from Attorneys
Without knowing more of the facts, it is hard to say what is or is not fraud versus mismanagement. Fees can vary depending on the type of assets being managed. I don't like the sound of being forced to sign some release in order to receive benefits that the trust is required to provide. A good source of information on fees would be to contact a private fiduciary in your area. PFAC is an organization that would be able to give you names of local private fiduciaries.
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