Are estate trust trustees eligible for compensation for their work?
As a co-trustee for my deceased grandmother's trust, I have spend a lot of time sorting out her estate. My co-trustee says we are entitled to a certain percentage (15%) of the trust for compensation. Is this true? Can this be referenced in the law?
Asked on 10/23/06, 3:18 pm
1 Answer from Attorneys
Cheryl Rivera Smith
The Smith Law Firm
Re: Are estate trust trustees eligible for compensation for their work?
Normally the courts will approve 5%, depending on the size of the estate. You should consult a cpa who is familiar with trust administration. Also, the beneficiaries of the trust should approve the expense.
Answered on 10/23/06, 4:13 pm
