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N Cal Attorney
N Cal Attorney, Attorney
Category: Estate Law
Satisfied Customers: 8076
Experience:  Since 1983
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You said the 6% was excessive (I agree) but does he have the

Resolved Question:

You said the 6% was excessive (I agree) but does he have the right to charge that if he wants to?
Submitted: 2 years ago.
Category: Estate Law
Expert:  N Cal Attorney replied 2 years ago.
Does the trust itself state what the compensatioon of the trustee is to be?
Customer: replied 2 years ago.
No - just says (reasonable). I just found out that he is not a testamentary trustee (never heard of that) but the trustee for a simple living trust. Does that change anything?
Expert:  N Cal Attorney replied 2 years ago.
I do not think it matters how the trust was started. I have to ask which County this is in, each County seems to have its own schedule of standard trustees' fees.

I also have to ask how many years the person acted as the trustee.
Customer: replied 2 years ago.
This is in Geauga County, OH. He was the trustee for about 5 months.
Expert:  N Cal Attorney replied 2 years ago.
Here is the statute:

Ohio Revised Code » Title [58] LVIII TRUSTS » Chapter 5807: TRUSTEES
5807.08 Compensation of trustee.
(A) If the terms of a trust do not specify the trustee’s compensation, a trustee is entitled to compensation that is reasonable under the circumstances.

(B) If the terms of a trust specify the trustee’s compensation, the trustee is entitled to be compensated as specified, but the court may allow more or less compensation if the duties of the trustee are substantially different from those contemplated when the trust was created or the compensation specified by the terms of the trust would be unreasonably low or high.
From
http://codes.ohio.gov/orc/5807.08

http://www.co.geauga.oh.us/Portals/3/resources/forms/FORMS-PROBATE/Geauga_Probate_Rules.pdf
local Rule 10 has the same trustees' fees as posted by the other County, but states they apply to testamentary trusts.

From reading your first question at
http://www.justanswer.com/estate-law/6idky-when-sister-in-law-died-house-left-trust.html
it sounds like a testamentary trust, or a trust created by a Will.

Please note Local Rule 12[3] at
http://www.co.geauga.oh.us/Portals/3/resources/forms/FORMS-PROBATE/Geauga_Probate_Rules.pdf
which states the trustee's fee cannot exceed that allowed by the Local Rules unless the Court allows a higher fee.

Based on what you have posted, the numbers I posted in the other thread still seem accurate.

I hope this information is helpful.
Customer: replied 2 years ago.
This trust was set up l0yrs. ago with brother as trustee. The will was handled by an executor who handled things right after the death. Later the trustee took over the sale of the house. There was never anything mentioned in the will about the trustee. Do you still think the earlier figures still apply? Thanks
Expert:  N Cal Attorney replied 2 years ago.
I do not know of any reason why the fees for an inter vivos trustee should be any different than the fees for a trustee of a testamentary trust. The statutes seem to support that interpretation:

5808.05 Reasonable administrative costs allowed.
Except as otherwise permitted by law, in administering a trust , a trustee may incur only costs that are appropriate and reasonable in relation to the assets, the purposes of the trust, and the skills of the trustee.

5808.01 Duties of trustee generally.
Upon acceptance of a trusteeship, the trustee shall administer the trust in good faith, in accordance with its terms and purposes and the interests of the beneficiaries, and in accordance with Chapters 5801. to 5811. of the Revised Code.
From
http://codes.ohio.gov/orc/5808

The underlined part refers to the statutes I posted before.

You can get a free consultation from some of the local attorneys listed at
http://lawyers.findlaw.com/lawyer/practicestatecounty/Trusts/Ohio/Geauga

I urge you to follow up on this with a local attorney. My opinion remains that the trustee overcharged you and the trust, if he was the trustee for less than a year.

But you wrote both that he was trustee for less than a year and that he was the trustee for 10 years, so I am confused. What is clear is that the expenses should have been deducted equally from each beneficiary and not taken entirely out of your share.

Please follow up on this with a local attorney who can advise you on how to proceed. Possibly a letter from a lawyer to the former trustee may be all that is needed to straighten out the problem and get you the funds I believe you are owed.
N Cal Attorney, Attorney
Category: Estate Law
Satisfied Customers: 8076
Experience: Since 1983
N Cal Attorney and 7 other Estate Law Specialists are ready to help you
Customer: replied 2 years ago.
Sorry - I even confused myself. He was named as trustee 10 yrs. ago but did't have to do anything until they both passed and he sold the house. Your answer was right on - thank you so much.
Expert:  N Cal Attorney replied 2 years ago.
Thank you for accepting my answer, and thank you very much for the bonus!

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