Learn all this and more about what to expect when it comes to Trustee fees, including what are normal Trustee fees, how you can navigate them, and most importantly, how you can avoid overpaying them. If your state has not adopted the Uniform Trust Code (UTC), it becomes even more important to be specific in the actual Trust. As used in this section, the term initial trust administration means administration of a revocable trust during the period that begins with the death of the settlor and ends on the final distribution of trust assets outright or to continuing trusts created under the trust agreement but, if an estate tax return is required, not until after issuance of an estate tax closing letter or other evidence of termination of the estate tax proceeding. This initial period is not intended to include continued regular administration of the trust. Persons who must or should be served with required notices and the method and timing of such service. Filing a nontaxable affidavit, if not filed by a personal representative. On an estate with an inventory value of $500,000, fees to the personal representative up to $15,000 are reasonable. REQUIRED. 303 and 6166 privileges, deduction of last illness expenses, distribution planning, asset basis considerations, throwback rules, handling income or deductions in respect of a decedent, valuation discounts, special use and other valuation, handling employee benefit or retirement proceeds, prompt assessment request, or request for release from personal liability for payment of tax. Other than compensation payable to the trustee, this subsection does not limit any rights or remedies that any interested person may have at law or equity. Persons who must or should be served with required notices and the method and timing of such service. The attorney fee is not required to be based on the size of the trust, and the presumed reasonable fee provided in subsection (2) may not be appropriate in all trust administrations. Except as provided in paragraph (d), if the trustee of a revocable trust retains an attorney to render legal services in connection with the initial administration of the trust, the attorney is entitled to reasonable compensation for those legal services, payable from the assets of the trust, subject to s. An attorney representing a trustee in the initial administration of the trust who intends to charge a fee based upon the schedule set forth in subsection (2) shall make the following disclosures in writing to the trustee: There is not a mandatory statutory attorney fee for trust administration. All rights reserved. (1) If the terms of a trust do not specify the trustee's compensation, a trustee is entitled to compensation that is reasonable under the circumstances. First and foremost, in seeking compensation for their services, the controlling duty of a trustee is the faithful and efficient conservation of the trust assets. Trustee fee norms can widely vary depending on the state the Trust is held.
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