Posts Tagged ‘Trustee Fee’

Duty: Section 7 of the Uniform Prudent Investor Act directs that “… a trustee may only incur costs that are appropriate and reasonable in relation to the assets, the purposes of the trust, and the skills of the trustee.” This duty to only incur reasonable costs includes the trustee’s duty to pay themselves only reasonable…

Few trust documents provide any guidance about trustee compensation other than to say it shall be “a reasonable amount”. Predictably, few trustees, beneficiaries or professional advisors agree on what a “reasonable amount” is. Attached is a short video that presents the factors that should be considered when a trustee establishes the level of compensation that…

This article is the last in a three-part series addressing the factors to consider when establishing trustee compensation.  In this article we consider the reporting requirement AFTER the trustee has determined what they are going to pay themselves. Following are several policies, procedures and practices we suggest the trustee adopt related to the ongoing administration of their…

Duty: Section 7 of the Uniform Prudent Investor Act directs that “… a trustee may only incur costs that are appropriate and reasonable in relation to the assets, the purposes of the trust, and the skills of the trustee.” This duty to only incur reasonable costs includes the trustee’s duty to pay themselves only reasonable fees.  Unfortunately, few…