Compensation for trustee
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Compensation for trustee
I am trustee for each of my parents’ estates. My dad died 10 years ago and my mom died last year. Both trusts will be closed soon. I understand that a trustee can be compensated for work done and that can involve a percentage of the estate. Is the
Asked on July 25, 2019 under Estate Planning, Minnesota
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
1) Each estate is a separate legal entity, so you calculate the compensation for each one individually but must be paid for your work on both.
2) The value is figured as of when the person died and your services became necessary.
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