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Ask Barrister Your Own Question
Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 35304
Experience:  16 yrs estate law, real estate. Wills/Trusts/Probate
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I am a co trustee moms trust the other trustee is my moms

Customer Question

i am a co trustee for my moms trust the other trustee is my moms accountant my question is he has charged the trust for doing the accounting the taxes and the bookkeeping and gets a trustee fee. My sister wont sign off on the accounting so he has charged the trust 5,000.00 more to do a court accounting is this how it done
Submitted: 1 year ago.
Category: Estate Law
Expert:  Barrister replied 1 year ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply,but rest assured, I am working on your question.

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Is there anything in the trust about additional fees being allowed?

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Is he charging what a normal licensed accountant would charge?

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thanks

Barrister

Customer: replied 1 year ago.
i dont know if his charges are fair ,I have asked to see the bills and he keeps putting off giving them to me
so all I have is whats on the accounting and they dont say what the charge is for its just a check# ***** the amount
There is nothing in the trust about additional fees
Customer: replied 1 year ago.
7.9Compensation of individual trustee
each individual who ia a trustee under this instrument shall be entitled to resonable compensation for services rendered, payable without court order.
This is what i found in the trust
Expert:  Barrister replied 1 year ago.

Ok, if he is doing work over and above what a trustee would normally do in managing the trust, then he would be entitled to reasonable extra compensation for that work.

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Generally a trustee would hire a CPA to handle any tax issues but if the other trustee is actually a CPA, then they are allowed to be paid for any accounting services that would normally be farmed out to another CPA.

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With that said, as a trustee, you have a legal right to full disclosure of any bills or debts that are being paid out of the estate assets because you have a fiduciary duty to make sure that trust assets are conserved.

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If the other trustee won't give you adequate detailed information about what the expenses are that he is claiming, then your recourse, as odd as it sounds, is to notify the beneficiaries about this and then discuss with them whether you wanted to file a "breach of fiduciary duty" lawsuit against the co-trustee to compel disclosure and potentially have them removed for abusing their position.

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In the alternative, you or a beneficiary could file an objection with the probate court and let a judge decide whether his charges are reasonable considering any compensation he has already been paid.

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thanks

Barrister

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thanks

Barrister

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