The Probate Litigation Subcommittee of the Estate Planning, Probate and Trust Section presents
How Much is Too Much? Trustee Compensation and an Analysis of California Rules of Court 7.776
| Date |
Wednesday, May 5, 2021 |
| Program |
12:00 - 1:15 p.m. |
| MCLE |
1 Hour in Estate Planning, Trust & Probate Law Specialization Law |
Speakers
Few trustees have a good answer to the question “How much Should I be paid”. Their professional advisors often disagree. Some say an hourly rate, some say a percent of the trust assets, and others say a flat retainer. Due to this general lack of agreement few can provide a thoughtful or comprehensive explanation of why they are getting paid what they are. Not surprisingly, many beneficiaries and their professional advisors frequently object to whatever the answer may be. Disagreements about the trustee’s compensation are exacerbated during periods of heightened financial uncertainty. This presentation seeks to provide a road map for both trustees and beneficiaries, of how to answer the ubiquitous question, “How much should a trustee be paid?”
This presentation answers the following questions:
- Should I charge an hourly rate and if so in what amount?
- Should I charge a percent of the trust portfolio like the corporate trustees do?
- If I delegate investment duties to a third party, should my fee go down?
- Can I charge more if I serve a particularly “high demand ”beneficiary?
- How do I determine what the “custom in the community” is?
- Is there any statutory guidance on what my fee should be?
Section Co-Chairs
Alicia Gámez, Law Office of Alicia M. Gámez
James Patrick Lamping, LawOffice of James P. Lamping
Howard Slavitt, Coblentz, Patch, Duffy & Bass
Event Code: G210509
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Cost
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MCLE Notice
To receive MCLE credit, you must sign in during the designated MCLE registration period. This activity is approved for Minimum Continuing Legal Education credit by the State Bar of California. BASF is a certified provider: Provider #103
Accessibility
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