What are the wages for trustee?

How do you figure out what to charge?

Asked on March 4, 2018 under Estate Planning, South Dakota

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

In SD, if a declaration of trust does not specify the rate or amount of the trustee's compensation, then the trustee is entitled to "receive reasonable compensation" for the performance of their duties. If the declaration specifies the amount or rate of compensation, then the trustee is entitled to that rate and no more. In your case, it paaears that no compensation has been listed, accordingly since you are an accountant, the fees charged must be reasonalbe for someone with your expertise. Exactly what that rate is, is a matter best discussed directly with a probate attorney in the area who will be familar with local customs relating to such fees. 


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