Q: I was a trustee on resigned, what is that fee I can charge for the work I have done on the trust?
A:
You can charge a "reasonable" rate. Typically, I've seen around $20 to $50 an hour, but it generally depends upon the quality, nature, and quantity of the work involved. You should keep very detailed records of everything that you do, how long it takes you, and what you accomplish. Then you should charge a reasonable rate per hour. An easy rule is just to charge roughly the hourly rate that you charge in your personal career. For example, if you are an accountant and charge $75 an hour, you should charge that. Odds are you've used your expertise in the administration of the trust. Of course, the higher the rate you charge, the more likely the beneficiaries will take you to court.
Another suggestion, I would submit a written proposal of your hourly rates to the beneficiaries and explain it. Have them sign it. If they all agree in writing, the court is likely to award you your fees.
Again, KEEP DETAILED RECORDS. This is the best way to ensure you are fairly compensated. People will be much more willing to pay your fees when they see what you accomplished to the benefit of the estate.
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