What does this mean to a trustee? Most trustees are paid by the hour for their services, but you may also receive a percentage of the estate as payment. When the creator of the trust asks if you are willing to serve as the trustee, it is important to discuss your payment arrangement so you know what to expect when the time comes.
It should also be noted that while you are serving as the trustee and administering the trust, it is imperative that you maintain documentation of the work you perform, including all of the tasks and the timeframes involved, so you will be fully reimbursed.
To help ensure you handle the trust administration matter as effectively and efficiently as possible, contact The Legacy Lawyers. We will carefully walk with you every step of the way. You will never be left wondering what to do next. Plus we are here to answer your questions at no additional charge. Start today by calling to schedule your no-cost consultation: (714) 963-7543.