How Much Is Too Much to Pay a Trustee or How to Avoid Being a Knucklehead 1 Credit
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Few trustees have a good answer to the question “How much Should I be paid”.
Professional advisors frequently hold conflicting opinions. Some advocate for an hourly rate, others suggest a percentage of trust assets, and yet others recommend a flat retainer. This widespread disagreement results in a limited ability for individuals to offer a well-considered or thorough rationale for their compensation. As expected, numerous beneficiaries and their professional advisors regularly express objections, further complicating the issue.
In times of heightened financial uncertainty, disputes over trustee compensation become more pronounced. This CPE course aims to guide both trustees and beneficiaries in navigating the common question, "How much should a trustee be paid?" Participants will explore the complexities of trustee compensation analysis, considering factors such as the influence of local court rules and corporate trustee fees used as benchmarks. The course delves into essential considerations for trustees, offering insights into determining appropriate payment and understanding when extraordinary fees are justified or awarded in intricate scenarios.
Key Topics:
By joining this online course, participants will emerge equipped with the knowledge and tools necessary to navigate trustee compensation challenges confidently.
| License details | Credits | Status |
|---|---|---|
| Specialized Knowledge for Certified Public Accountants (CPA-US) | 1 CPE | Approved |
| Estate Planning for Personal Financial Specialist (PFS) | 1 CPD | Eligible |
| Estate Planning for Chartered Financial Analyst (CFA) | 1 PL | Eligible |
| Specialized Knowledge for Delaware Licensed Public Accountant (DE-LPA) | 1 CPE | Eligible |
| Estate Planning for Chartered Financial Consultant (ChFC) | 1 CE | Eligible |
| Financial Planning for Certified Wealth Strategist (CWS) | 1 CE | Eligible |
| Trust and Estate Practitioners (TEP) | 1 CPD | Eligible |
| Financial Planning for Certified Fiduciary and Investment Risk Specialist (CFIRS) | 1 CE | Eligible |
| Estate Planning for Retirement Income Certified Professional (RICP) | 1 CE | Eligible |
| Estate Planning for Wealth Management Certified Professional (WMCP) | 1 CE | Eligible |
| Estate Planning for Financial Services Certified Professional (FSCP) | 1 CE | Eligible |
| Specialized Knowledge for Iowa Licensed Public Accountant (IA-LPA) | 1 CPE | Eligible |
| Specialized Knowledge for Maine Licensed Public Accountant (ME-LPA) | 1 CPE | Eligible |
| Estate Planning for Chartered Special Needs Consultant (ChSNC) | 1 CE | Eligible |
| Estate Planning for Chartered Advisor in Senior Living (CASL) | 1 CE | Eligible |
| Estate Planning for CIPM | 1 PL | Eligible |
| License details | Credits | Status |
|---|---|---|
| Specialized Knowledge for Certified Public Accountants (CPA-US) | 1.5 CPE | Approved |
| Estate Planning for Personal Financial Specialist (PFS) | 1.5 CPD | Eligible |
| Estate Planning for Chartered Financial Analyst (CFA) | 1.5 PL | Eligible |
| Specialized Knowledge for Delaware Licensed Public Accountant (DE-LPA) | 1.5 CPE | Eligible |
| Estate Planning for Chartered Financial Consultant (ChFC) | 1.5 CE | Eligible |
| Financial Planning for Certified Wealth Strategist (CWS) | 1.5 CE | Eligible |
| Trust and Estate Practitioners (TEP) | 1.5 CPD | Eligible |
| Financial Planning for Certified Fiduciary and Investment Risk Specialist (CFIRS) | 1.5 CE | Eligible |
| Estate Planning for Retirement Income Certified Professional (RICP) | 1.5 CE | Eligible |
| Estate Planning for Wealth Management Certified Professional (WMCP) | 1.5 CE | Eligible |
| Estate Planning for Financial Services Certified Professional (FSCP) | 1.5 CE | Eligible |
| Specialized Knowledge for Iowa Licensed Public Accountant (IA-LPA) | 1.5 CPE | Eligible |
| Specialized Knowledge for Maine Licensed Public Accountant (ME-LPA) | 1.5 CPE | Eligible |
| Estate Planning for Chartered Special Needs Consultant (ChSNC) | 1.5 CE | Eligible |
| Estate Planning for Chartered Advisor in Senior Living (CASL) | 1.5 CE | Eligible |
| Estate Planning for CIPM | 1.5 PL | Eligible |
Credit
Course Level
Instructional Method
Pre-requisites
Advance Preparation
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Josh Yager is a recognized expert on the management and oversight of trust assets. He lectures and writes extensively on the policies, procedures, and practices for the prudent administration of trusts. He has been invited to speak to various Bar associations, CPA chapters, estate planning councils, Professional Fiduciary Association forums and AICPA national events. Josh has testified on prudent governance practices before in the California Courts, the Texas Pension Review Board and the Alaska Retirement Management Board. Josh has led governance consulting engagements for the boards of public pension funds responsible for assets in excess of $30b, foundation and endowment boards with assets in excess of $250m and for individual trustees with modestly funded trusts.
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After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
KL
Estate and trust administration fees is too often a fuzzy area for executors, trustees, and their professional advisors. This course was very helpful towards providing guidance on how I can help clients quantify and justify discretionary remuneration from administering an estate or trust.
JG
One of the best courses I have taken through myCPE. The instructor provided comprehensive guidance and practical examples. This course truly delivered on it's stated goals.
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