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How much is too much to pay a trustee

4.5 (71)

Josh Yager, Esq., CFP, ChFC, CLU, Esq., CFP®, ChFC®, CLU®

Anodos Advisors

Thursday, April 29, 2021 | 12:00 PM EDT

  • CPA Canada
  • CPA
  • CPA/PFS
  • TEP
  • CSA

1 Credit

FREE

Subject Area

Specialized Knowledge

Webinar Qualifies For

1 CPE credit of Specialized Knowledge for all CPAs

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Upcoming Webinars

Course Description

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 online CPE webinar answers the following questions:

  • Should I charge an hourly rate and if so in what amount?
  • Should I charge a percentage of the trust portfolio as 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?

Recommended for:

This online CPE webinar is recommended for trustees, CPAs and professional advisors working with trusts.

Learning Objectives

  • What factors are to be considered as part of a trustee’s compensation analysis?
  • How do local rules of court effect a trustee compensation analysis?
  • Review of Corporate trustee fees as guidance for individual trustee fees.
  • Where are Extraordinary Fees appropriately charged/awarded?

Who Should Attend?

  • Certified Public Accountant
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Young CPA

Testimonial

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(
    [no_of_record] => 71
    [average] => 4.4648
)
 

4.5

(71)
52%
42%
6%
0%
0%

CB

Excellent class.

CB

Excellent class.

RS

Presenter did an excellent job. Clear voice with great examples. Need more like him.

JD

This presentation gave factors to help determine how much a trustee should be paid. The ideas presented here were clear and informative.

MB

This webinar was very interesting and informative. I didn't realize the scope of what this topic would cover. I definitely have a better understanding of what could go into deciding a reasonable amount to charge someone to be a trustee.

CM

I am a beneficiary and my aunt/trustee is trying to be paid a certain percentage of the assets. I was just looking for information to understand what is reasonable.