What is reasonable compensation for a trustee in california

What is reasonable compensation for a trustee in california. However, these fees aren’t always paid out on an hourly basis. G. e. (2) If the terms of a trust specify the trustee’s compensation, the trustee is entitled to be compensated as specified, but the court may allow more or Oct 6, 2023 · The percentage usually ranges from 0. , the drafter of the trust instrument, the care custodian of the settlor, the transcriber of the trust instrument or the person who caused it to be transcribed); Apr 10, 2020 · For any amount over $25,000,000, California Probate Code § 10800(a)(6) allows reasonable compensation as determined by the California Probate Court. 00; 1% of the next $9,000,000. 0708(3) (3) If the trustee has rendered other services in connection with the administration of the trust, the trustee may receive reasonable compensation for the other services rendered, in addition to reasonable compensation as trustee. Set a rate that's appropriate given the kind of work you're doing, and then keep careful track, in writing, of how many hours you spend on trust business. October 6, 2023. As the trustee, you are entitled to charge the trust for reasonable compensation of your services. Estate Planning 101. Aug 1, 2014 · 1. History: 2013 a. Sep 23, 2022 · 1. In Santa Clara County and San Mateo County, the amount of compensation a nonprofessional trustee can charge the trust is betweeen $25 to $35 Trustee Compensation In California. May 9, 2024 · Where the trustee’s compensation is excessive under the circumstance; Where the sole trustee is a “Disqualified Person” described in California Probate Code section 21380 (i. Most California superior courts do not have the guidelines in their local rules. You can refer to Probate Code §16047. This fee structure aligns the trustee's compensation with the performance of the trust, rewarding careful management. They are private documents, essentially an §607-18 Compensation of trustees. The payment structure of trustee fees can vary depending on the size of the trust, the trustee's duties, and the type of trust being managed. In determining or approving compensation of a trustee, the court may consider, among other factors, the following: (1) The gross income of the trust estate; (2) The success or failure of the trustee's administration; (3) Any unusual skill, expertise, or experience brought to the trustee's work; (4) The Jul 4, 2021 · A majority of the states that have adopted some form of the Uniform Trust Code allow the fiduciary to be paid a fee that is “reasonable under the circumstances. When determining the trustee fee, Rule 7. Some states have other approaches to fiduciary compensation, including a graduated fee scale based on the value of the property being managed. This can include the trustee’s travel expenses to administer the trust. ) Often, trusts simply say that the trustee is entitled to “reasonable compensation” without any definition or any guidelines to help determine the amount of trustee compensation. Currently, our Trusts indicate that a Trustee is entitled to one-half (½) percent of the value of the Trust should an individual beneficiary be acting 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. I have seen judges approve $15 per hour and I have seen them approve $250 per hour. Trustees have a Fiduciary Duty of Loyalty to the Beneficiaries - not to themselves. , 4% of CA estates <$100K, as per California Probate Code, §§ 10800-10805 ) Cash Flow an Executor Manages. 92. 203E, §708 (a). If the terms of a trust do not specify the trustee’s compensation, the fees paid to third parties, including but not limited to financial advisors, who perform trustee functions must be taken into account in determining reasonable trustee compensation under this section. Oct 17, 2022 · This means acting as a “reasonable person” would, given the circumstances. This compensation structure ensures trustees are fairly remunerated for their In exchange for their services, California Probate Code §15681 allows trustees to receive “reasonable compensation. Often, professionals charge a higher percentage of smaller trusts and a The Law Offices of Daniel A. (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. 776 of the California Rules of Court specify eight factors to be taken into consideration: (1) The gross income of the trust estate; Under California Probate Code section 10800, the Executor, Administrator, or Personal Representative typically receives statutory compensation based on California law calculated in the following manner: 4% on the first $100,000; 3% on the next $100,000; 2% on the next $800,000; 1% on the next $9M; 5% on the next $15M; and Jul 1, 2016 · November 29th, 2023. 5% to 2% of the trust's assets per year. (1) Instead of the rates of income commissions and corpus commissions provided in subsections (b) and (c) of this section, a trustee may charge reasonable compensation calculated in accordance with a schedule of rates previously filed by the trustee with the appropriate agency In cases other than those described in subsections (a) and (b) of this Code section, the trustee shall be entitled to compensation as follows: With respect to a corporate trustee, its published fee schedule, provided that such fees are reasonable under the circumstances; and ; With respect to an individual trustee: Oct 6, 2023 · Get Snug. (b) All of the following factors shall be considered in determining reasonableness of compensation: Oct 26, 2020 · If the trustor, co-trustees, or beneficiaries decide to move forward with the trustee removal, their lawyer will draft a petition based on the trustee’s misconduct. Feb 27, 2024 · Trustee fees are the compensation paid to the trustee for managing and administering the assets held in a trust. Although some trusts state the amount of the trustee’s fee, most trust instruments provide that a trustee is entitled to “reasonable compensation. This is not helpful. What that accounting is and when it is required is the subject of this article. 348 §57; 2013 c. Jan 24, 2020 · Case law has developed a “rule of thumb” for total compensation to administer an estate, being 2. 4% on the first $ 250,000; 0. Executor Fees by State Interactive Map. Unlike the personal representative fees, the statutes do not provide guidance as to what is deemed “reasonable compensation. 1% on any excess. (b) The compensation specified by the terms of the trust would be unreasonably low or high. 00; 2% of the next $800,000. 190B, § 3-719. (g) Right to charge reasonable compensation in lieu of commission. C2001, §633. Common calculation approaches include: Fixed Amount. It is a facts and circumstances test that looks at the particular skills of the trustee, the success (or failure) of the Trust administration, the type of asset being administered, and the Jan 31, 2023 · The trustee is the individual or institution that holds and manages the assets of the trust. " The trustee calls the CPA who prepared the income tax returns for the prior trustee and asks, "What is a reasonable amount to be compensated as trustee?" The CPA responds, "$120 per Rule 7. , attend one of our free upcoming virtual Estate Oct 30, 2023 · Now, what is reasonable compensation? (Here are some examples) Private Trustees: Typically paid an hourly rate ($20. 5% and 2% in Florida. Inherent to this role is special rights that give power to the trustees to handle the trusts with expertise. Feb 7, 2020 · The penalties for disregarding the compensation rules are severe. Trustees are personally 100% liable for wrongful conversion of Trust assets. ) from a trust. This petition will then go to the Probate Court and be reviewed by a judge. 5% of the gross size of the trust per year. We've helped over 10,000 clients find peace of mind. Although this might cost them a few thousand Nov 15, 2023 · Trustee Rights and Defenses in Legal Disputes. Aug 19, 2021 · That raises the question - what should a successor trustee be compensated? If you haven’t specified in a will or trust whether, or how much, the fiduciary should be compensated, most state laws have addressed the question. 00; and. If the trustors, when creating the trust, wish to specify how trustee compensation is to be calculated or that the trustee is not entitled to compensation, then they have the power to do so. And even the California Probate Code states that Trustee compensation must be “reasonable” (see Section 15681), but what is reasonable? First, let’s consider situations where a Trustee is not entitled to compensation at all because that may be the easier question. Apr 28, 2016 · M. If you feel like you have a good understanding how trustee fees work, but you’re uncertain what to pay (or what to charge if you’re acting as a trustee), speak with an estate planning attorney. The percentage typically ranges from 0. 002) Feb 11, 2018 · The attorney you spoke with is right on. (3) If the trustee has rendered other services in connection with the administration of the trust, the trustee may receive reasonable compensation for the other services rendered, in addition to reasonable compensation as trustee. The complexity of the trust. Some states have a statutory formula for compensation. Removing and replacing the trustee with someone else. Jan 26, 2021 · “Reasonable” trustee fees are only what a court determines to be reasonable. Many trustees file a petition in the local probate court to approve their fee if they see a trustee compensation dispute looming on the horizon. Shareholder loan or officer's compensation? In California, a trustee is required to account to the beneficiaries as to the activities of the trust unless certain exceptions apply. Nov 27, 2023 · Trustee fees are set in several different ways. 00 per hour) Corporate Trustees: Usually receive 1% to 2% of the Trust Assets. A trust document can explicitly state how much a trustee gets compensated or a trust document can follow the "reasonable compensation" as set forth in California Probate Code Section 15681. Dec 10, 2018 · Under California Probate Code section 15680, a trustee is entitled to be compensated as set forth in the instrument. Reasonable trustee compensation is usually based on factors such as the amount of time required, the complexity of the trust, amount of money managed and skillset or outside resources needed (ex. In Texas, Section 114. It's hard to argue with taking payment for your time and effort. The trustee has a duty to keep the beneficiaries informed about the trust property and how it is being managed. As “Survey of Jurisdictions,” pp. 5% of the next $15,000,000. Jun 14, 2022 · A trust is a legal device that permits the property owner to make transfers of that property. Professional trustees typically earn fees based on standard hourly rates ranging from $100 to $175. This standard fee also serves as a base rate for relatives or close friends of the trustor that serve Oct 9, 2020 · The trustee fees are tax deductible to the trust, and the fees are considered taxable income for the trustee. , $10,000 specified in the will) Percentage of Overall Estate Value. ” That fee may be set by a probate court or the trustee with the approval of the beneficiaries. If the fee is a percentage of the value of the trust, it's usually between 0. Feb 14, 2019 · Most Trust documents do not specify an amount for Trustee compensation. The Trust itself probably address how Trustees are to be compensated (if indeed they are allowed to be compensated by the Trust document). b. 5% of the total trust assets. So, for example, the annual fee for a trust holding $1 million could be between $10,000 and $20,000. If the trustee decides to file a petition to approve their compensation rate, the probate court may consider the following factors in determining reasonable compensation (see Cal Rules of Ct 7. Picture this: A family member or friend has The Florida statutes state that the trustee is entitled to reasonable compensation. Understanding Trustee Fees in California. The foundation is assessed a penalty equal to 20% of the portion of compensation that is considered unreasonable. 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. Nov 7, 2010 · Posted on Nov 11, 2010. Jul 28, 2021 · What are reasonable fees to charge as a trustee in California? On Behalf of Law Offices of Connie Yi, PC | Jul 28, 2021 | Trusts |. If the terms of a trust specify the trustee’s compensation, the trustee is entitled to be compensated as specified, but the court may allow for more or less compensation if: Oct 17, 2023 · According to Rule 7. (e. 15-16, shows, most of the states allow reasonable compensation for executors and trustees. What is considered reasonable is going to depend on the type of trust. The procedures for compensating yourself for your efforts in carrying on a trade or business will depend on the type of business structure you elect. Accordingly, to determine what is considered (c) An order fixing or allowing greater or lesser compensation under subdivision (b) applies only prospectively to actions taken in administration of the trust after the order is made. [2005 c. We serve clients throughout the greater Sacramento region and the state of California. Non-professional trustees, such as family members or close friends, usually have a more flexible fee structure. If foundation insiders fail to meet the “personal services” and “reasonable and necessary” requirements, the foundation will be subject to substantial fines. Prohibition of Profiting (California Probate Code Section 16004): This provision prohibits trustees from deriving any profit from their role as a trustee, except for reasonable compensation explicitly provided for in the trust instrument or allowed by law. 15681. 0708 Compensation of trustee. If fees are based on a percentage of the estate’s value, it is usually on a tiered model, for example, 5% of the first $100,000, 3% of the next $100,000, etc. If the terms of a trust specify the trustee's compensation or refer to another ascertainable source for determining that compensation, the trustee is entitled to be compensated as specified, but (a) If the terms of the trust do not specify the trustee's compensation, the trustee is entitled to receive from the assets of the trust compensation that is reasonable under the circumstances. Percentage fees are typically calculated as a percentage of the trust assets and can range from 1-2% annually. 4109 . 776 lists factors a court may consider in reviewing trustee California Probate Code Section 15681 indicates that if the Trust doesn’t specify fees, the Trustee is entitled to “reasonable compensation under the circumstances”. Bankruptcy. Professional trustees rarely charge less than a 1% of the total worth of the estate as a fee. Still others leave their successor trustee a specific bequest instead of a fee. For the amount of liability a trustee undertakes, $20 an hour is very modest compensation. Generally speaking, trusts are an efficient way for individuals to transfer their Reasonable Compensation As a “reasonable compensation” jurisdiction for trust-ees, Florida is in the majority of states. Suspending the trustee. 529 §16] Source: Section 130. 2. Understanding Trustee fees is a critical factor in setting up and operating a Trust in California. In extraordinary circumstances calling for equitable relief. L. In Florida, 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. Denying or reducing the trustee’s compensation. 00 per hour for their work. 061 provides: “(a) Unless the terms of the trust provide otherwise and except as provided in Subsection (b) of this section, the trustee is entitled to reasonable compensation from the trust for acting as trustee. The Duty to Account: Most trusts do not have regular court or state agency supervision. A trustee acting in a fiduciary capacity, as herein authorized, is entitled to receive such compensation or commission as provided for in the trust agreement or other contract. Individual people appointed as trustees who decide to manage the process on their own are entitled to “reasonable compensation. As you begin the process of implementing an estate plan in California, you may be wondering whether you are entitled to trustee compensation for your time. cash, real estate, stocks, bond, mutual funds, jewelry, etc. A trustee is entitled to be reimbursed for expenses that were properly incurred in the trust administration. Things to consider include the following: The amount of time needed to administer the trust. Flat fees are usually based on the amount of work involved and can be negotiated between the trustee and the grantor of the trust. By allowing a trustee to be compensated for the time spent administering a trust, the grantor can ensure that the named individual or institution will 0. 701. Feb 17, 2017 · A trustee must invest and manage the trust assets as a prudent investor would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust. 16011. Dec 26, 2013 · Trustee compensation in Florida is determined first by the terms of the Trust, then by what is reasonable under the circumstances. 2005 Acts Oct 6, 2023 · Alternatively, a percentage-based fee is more common with larger, more complex trusts. What does "reasonable compensation" mean exactly? A lot of times in law there is not a set answer Jul 8, 2021 · Thus, most trusts will simply state that a trustee is entitled to “reasonable compensation. How is a trustee fee calculated? Apr 28, 2023 · What Is Reasonable Compensation for a Trustee in California? In most cases, a trustee does not need to obtain a court order before paying himself – he simply pays himself for the work performed. 6 Reasonable compensation statutes may, in addition to stating that the trustee is entitled to compensation that is reasonable under the circumstances, provide a list of factors to con- Nov 10, 2021 · Determine whether the grantor has made any mention of estate trustee fees. M. This permits for flexibility and an appropriate determination of compensation proportionate with the work performed. Some grantors choose to limit the fees to a specific dollar amount, while others opt for allowing the payment of reasonable fees based on services rendered and applicable state law. B. 776): 1. Use US Legal Forms to get and down load legal kinds you will need. If the compensation specified by the terms of the trust would be inequitable, or unreasonably low or high. Duty pertaining to investments: Similar to the above two duties, the successor trustee is required to review the trust’s investments and assets to ensure that these financial plans line up with the overall purpose of the trust, as well as its terms. 776. . California rule of court 7776 list factors that may have to do with a trustee compensation, the trustee and the beneficiaries are likely to apply those factors differently. In many ways, the amount will depend on the type of a. In 2016, the American College of With no guidance from the trust document, the laws in most states usually require that trustee compensation be “reasonable,” without giving more details. By way of example, if the estate accounted for is valued at $1,600,000, the total statutory compensation fee to the personal representative would be $29,000. In most places in California, that range has been 1 to 1. Trustee fees in Florida are calculated based on a "reasonable fee" standard. ” Some states have taken an alternate Jul 17, 2023 · The trustee fee arrangement varies depending on the state fee schedules for trustees and the specific terms and conditions written out by the trustor. Serving as a trustee of a special needs trust can be a time-consuming and complicated job, which is why trustees are almost always entitled to compensation for their services. 5% of disbursements (i. 00; 0. c. Most states, as part of the Uniform Trust Code, allow the fiduciary to be paid a fee that is “reasonable under the circumstances. Notice Hearing Court. Instead it is a guide of where to start when looking for executor fees in particular states. If the duties of the trustee are substantially different from those contemplated when the trust was created. May 26, 2022 · How Are Annual California Trustee Fees Calculated? May 26, 2022. When implementing an estate plan in California, it is essential to ensure that you receive the proper compensation for the amount of time and work you are putting in. Factors that influence trustee fees include the complexity of the trust document, the Feb 9, 2023 · Various state laws entitle the executor or trustee to compensation that can be "reasonable," a flat rate, hourly fee, or a percentage of the estate. Click on your state in the map below to see the executor fees you’re entitled to: Disclaimer: The information contained herein is not intended to be legal advice. Trust litigation is a lawsuit filed by a beneficiary against a trustee or a third party or by a trustee against a beneficiary or third party. 25% on the next $ 250,000; 0. There is no bright line test for defining reasonable compensation. Paying Fiduciary Fees. Acting as someone’s trustee or agent (also called an attorney-in-fact) is a great responsibility, and can be a fair amount of work depending on the circumstances. Hunt is a California law firm specializing in Estate Planning; Trust Administration & Litigation; Probate; and Conservatorships. 15682. Below are topics that frequently arise when new business owners ask the Internal Revenue Service questions about paying themselves. 5% of the gross value of the estate), plus an annual “care and management fee” of 2/5 of 1% of the average value of assets invested and managed for an ongoing testamentary trust. 5% of receipts, 2. See Probate Code Section 17200 (b) (9). The $250 was in the case of an attorney one time and a doctor, the other time. If you normally make $30 per hour in your regular job, the Jan 25, 2018 · A trustee and an agent under a power of attorney are fiduciaries, meaning they are obligated to act honestly and ethically in the best interests of the person granting the power. (a) Unless the trust instrument otherwise provides, or the settlor and trustee otherwise agree, or, after the settlor's death, all the beneficiaries and the trustee otherwise agree, the trustee shall be entitled to the compensation set forth in this section and the compensation shall be deemed to be reasonable. 16009. To calculate CA executor compensation, follow these steps: Enter gross value of estate assets (as modified by any asset sale price changes) Enter additional receipts (such as income generated by the estate) Enter the value of any extraordinary services (such as selling a house) Enter the number of executors. Some states allow executor compensation Oct 1, 2020 · 736. However, it’s also common practice to charge an annual fee of 1% to 1. Trustees are critical to trust administration – and under California Probate Code 15681, are entitled to reasonable compensation for their efforts. A reasonable amount, as determined by the Jun 7, 2018 · It is worth noting that if a trust is administered by a corporate trustee, a corporate trustee would normally charge between 1-2% of the trust assets. If the trust is silent on the issue of trustee compensation, California Probate Code section 15681 similarly provides that “the What is reasonable compensation for a trustee in california. —. The trustee must exercise reasonable care, skill, and caution. May 13, 2018 · Most trusts in California state that the trustee is entitled to reasonable compensation. Recovering monetary and other forms of damages. The main duties that a California trustee must perform are below: Duty to Inform and Account. The trustees’ primary responsibility includes handling the trust maker’s wishes and managing the trust’s assets. Non-professional trustees should use the above-mentioned guidelines before taking a fee. California state law allows the removal of a trustee, even if there is a no-contest clause. Often, professionals charge a higher percentage of smaller trusts and a Jul 27, 2023 · Paying Yourself. Oct 29, 2013 · In the absence of a specific provision in the trust, compensation must be "reasonable". Oct 6, 2023 · The percentage usually ranges from 0. However, the landscape may always change with legal disputes Oct 17, 2023 · Trustees can be compensated in two ways: a flat fee or a percentage of the trust assets. (b) To see that the trust property is designated as property of the trust. If the trust instrument does not specify the trustee's compensation, the trustee is entitled to reasonable compensation under the circumstances. Payment of trustees usually takes one of two forms: either a flat fee based on a percentage of the trust’s assets, or an hourly rate. 776 of the California Rules of Court, the following eight items are taken into consideration by the court regarding the compensation amount: Whether the work performed was routine or required more than ordinary skill or judgment. For example, the instrument might state that the trustee shall receive a management fee of one percent of the value of the trust assets per year, with pro ration for partial years. ” When reading a trust document for the first time, a new trustee discovers that the trustee’s compensation shall be "a reasonable amount under the circumstances. Executors or trustees that go beyond Feb 18, 2024 · With a more complicated trust, however, some compensation is expected. 00 to $45. A trustee may be allowed a reasonable amount of compensation for their services. Jan 16, 2020 · Most often however, trusts terms are often simply state that a trustee is entitled to “reasonable compensation,” as stated by California Probate Code section 15681. ” However, if the trust document itself specifies different pay arrangements, then under Probate Code §15680, trustees are legally entitled to be compensated according to the terms of the trust. Get templates for business and private demands within the biggest variety of documents in the USA. Professionals usually charge an annual fee of between 1 percent to 2 percent of assets in the trust. Trustees can always default to allow for reasonable statutes: (a) statutes providing for “reasonable compensation” of a trustee, and (b) statutes that set forth a fee schedule or scale for commissions and fees. The trustee cannot be a beneficiary and should be as uninvolved in the monetary benefits of the trust as possible. If the terms of a trust specify the trustee's compensation or refer to another ascertainable source for determining that compensation, the trustee is entitled to be compensated as specified, but Among those remedies are: Forcing the trustee to carry out the trustee’s duties. If the amount of such compensation or commission is not regulated by or stipulated in the trust agreement, the trustee may charge and deduct a reasonable compensation or Feb 16, 2022 · As per the terms of this Section, a personal representative shall receive compensation based upon the overall gross value of the estate as follows: 4% of the first $100,000. This ensures that the trustee's compensation is not grounds for the trustee's removal and surcharge (see monetary penalty) for breach of trust. Pick a reasonable hourly rate. The trustee has a duty to do the following: (a) To keep the trust property separate from other property not subject to the trust. 99 Acts, ch 125, §44, 109 . Compensation of trustees. 16010. ”. Professional Trustees: Given their expertise, professional trustee compensation often exceeds $110. Sep 2, 2014 · Under California law, trustee compensation must be “reasonable” if there are no criteria or other guidelines set forth in the trust. Judges often look to an "opportunity cost theory" to determine what is reasonable. Don't charge a professional rate—the hundreds of dollars an hour that a lawyer or Calculator Instructions. Oct 28, 2022 · The trustee is also responsible for paying the creditors using trust’s assets. 0. However, it must be clear that they are not stealing or taking money from the trust. Whatever the case, once common denominator is that all fees should be earned. (c) An order fixing or allowing greater or lesser compensation under subdivision (b) applies only prospectively to actions taken in administration of the trust after the order is made. Feb 14, 2022 · With a more complicated trust, however, some compensation is expected. 3. As a blanket concept, trustees are entitled to reasonable compensation for their services. Preventing the trustee from committing a breach. In Florida, there are no statutory guidelines for trustee fees. , 5% of amounts received or paid out in cash for TX estates, as per Texas Estates Code § 352. ” In some cases (but not often), the trustor may explain in the trust document how much the trustee should receive for compensation. 00; 3% of the second $100,000. The Uniform Trust Code (UTC), adopted by Sep 20, 2023 · 3. Reasonable Compensation. (Probate Code section 15681. Mar 16, 2021 · The default rule for trustee compensation is "reasonable compensation"Trustee compensation can be tricky. What is a reasonable trustee’s fee in California for a family member who acts as trustee? While California Rule of Court 7. This fee structure encourages the careful management of the trust, as the trustee's compensation is tied to the performance of the trust. ” However, Florida case law has established a long list of factors that are to be used in calculating trustee fees, some of which are: May 9, 2024 · the agreement between the "grantor" (the person who made the trust) and the trustee. Dec 8, 2017 · Under California law, if a trust does not specifically state a fee for trust administration, a trustee is entitled to “reasonable compensation. Trust laws may differ from state to state. If interested in learning more about this article or other estate planning, Medicaid and public benefits planning, probate, etc. 635 — UTC 708. CPA, attorneys, experts). In such cases, a trustee may be compensated for his, her or its services. A trust beneficiary is a person who is entitled to receive property (i. Rather than fixing or eliminating trustee fees, it is far more common for a trust to provide for reasonable compensation. What is reasonable trustee’s compensation? Reasonable compensation has been historically the amount of compensation that local or bank trustees have charged. Depending on the type of trustee you’ve hired, and the pay Here in California, California Probate Code Section 15681 generally permits a reasonable fee. 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. The trustee has a duty to take reasonable steps to enforce claims that are part of the trust property. g. In this article, we'll look at the typical fee ranges for different types of trusts, when trustees are paid, and whether trustee fees are considered taxable. It also authorizes them to have the property (referred to as trust assets) managed on behalf of someone (called the trustee). 15% on the next $ 500,000; and. Similarly, the Massachusetts Uniform Trust Code (“MUTC”) states that “ [i]f the terms of a trust do not specify the trustee’s compensation, a trustee shall be entitled to compensation that is reasonable under the circumstances. yz xg if je oi ep td as pd bb