How Much Is Too Much to Pay a Trustee or How to Avoid Being a Knucklehead

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How Much Is Too Much to Pay a Trustee or How to Avoid Being a Knucklehead

Published

March, 2024

Josh Yager

Learning Objectives

To discuss the key factors influencing trustee compensation analysis.
To explain the impact of local court rules on trustee compensation determinations.
To review corporate trustee fees as benchmarks for individual trustee compensation.
To identify scenarios where extraordinary fees are appropriately charged or awarded.
To discuss best practices for navigating trustee compensation challenges effectively.

Course Description

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:

Factors influencing trustee compensation analysis
Local court rules and their impact on trustee compensation
Comparing corporate trustee fees for individual compensation guidance
Determining appropriate scenarios for charging or awarding extraordinary fees

By joining this online course, participants will emerge equipped with the knowledge and tools necessary to navigate trustee compensation challenges confidently.

Overview

Typical trust language

4 mins
Skill, expertise or experience

14 mins
Risk and responsibility of the trustee

23 mins
Custom in the community

35 mins
Extraordinary service

46 mins
Rule of thumb

52 mins

Webinar Qualifies For

1 CPE Credit of Specialized Knowledge for Certified Public Accountants (CPA-US)
1 General Credit of Specialized Knowledge for Accountant/Bookkeeper/Tax Professionals
1 CPD Credit of Estate Planning for Personal Financial Specialist (PFS)
1 PL Credit of Estate Planning for Chartered Financial Analyst (CFA)
1 CE Credit of Estate Planning for Chartered Financial Consultant (ChFC)
1 CE Credit of Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA)
1 CPD Credit for Trust and Estate Practitioners (TEP)
1 CE Credit of Financial Planning for Certified Wealth Strategist (CWS)
1 CE Credit of Estate Planning for Retirement Income Certified Professional (RICP)
1 CE Credit of Financial Planning for Certified Fiduciary and Investment Risk Specialist (CFIRS)
1 CE Credit of Estate Planning for Financial Services Certified Professional (FSCP)
1 CE Credit of Estate Planning for Wealth Management Certified Professional (WMCP)
1 CE Credit of Estate Planning for Chartered Advisor in Senior Living (CASL)
1 CPE Credit of Specialized Knowledge for Iowa Licensed Public Accountant (IA-LPA)
1 PL Credit of Estate Planning for CIPM
1 CPE Credit of Specialized Knowledge for Maine Licensed Public Accountant (ME-LPA)
1 CPE Credit of Specialized Knowledge for Delaware Licensed Public Accountant (DE-LPA)
1 CE Credit of Estate Planning for Chartered Special Needs Consultant (ChSNC)

About Instructor

Josh Yager

Principal, Anodos Advisors

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.

Additional Information

Duration

1 Hour

Course Level

Basic

Instructional Method

QAS Self Study

Pre-requisites

None

Advance Preparation

None

FAQ’s

Click Here to View

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Ratings and Review

4.7

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John Groth, CPA (US)

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.

Jeffrey Ebelhar, CPA (US)

Excellent presentation. I gained some valuable insights. The hour flew by.

JTW

Jayne T Williams, EA

Seeing the options in straight lines helped to focus the random details I had collected over the years. Great reference points provided. I appreciated the overall view from an attorney point of view.

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1 Credit

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How Much Is Too Much to Pay a Trustee or How to Avoid Being a Knucklehead

Course Details

Learning Objectives

Course Description

Overview

Qualifies for

Webinar Qualifies For

Presenter Details

About Instructor

Josh Yager

Other Details

Additional Information

1 Hour

Basic

QAS Self Study

None

None

FAQ’s

NASBA APPROVED

Ratings and Review

4.7

John Groth, CPA (US)

Jeffrey Ebelhar, CPA (US)

Jayne T Williams, EA

Subject Area

Unlimited Access Plan

Inclusions

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