If I am a Trustee along with my uncle, can I take a percentage for the administrative work?

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If I am a Trustee along with my uncle, can I take a percentage for the administrative work?

We have 7 people total in the trust. I just leased some oil mineral rights for a sum of money. I have done all the work involved.

Asked on July 23, 2013 under Estate Planning, Washington

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

I would check with an attorney in your state to be sure here.  A Trustee has a fiduciary obligation to the beneficiaries.  The state of Washington does not specifically state the amount that may be taken for fees, only a "reasonable" compensation for services performed.  I would watch the amount.  Good luck.


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