Legal Question in Wills and Trusts in South Carolina
Trustee Fees
What is the range of appropriate yearly percentage fees for the trustee of a personal trust?
Asked on 1/04/01, 1:23 pm
1 Answer from Attorneys
Charles Aspinwall
Charles S. Aspinwall, J.D., LLC
Re: Trustee Fees
It is usually a declining percentage applied to the balance of the trust. It could be 5% for the first 100K, 4% for the next 400K, 3% for the next 500K, and 2% for everything over 1 mil or some scheme like that.
Trustees' compensation is almost always set by the trust instrument or by state law.
Answered on 1/05/01, 8:33 am
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