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Ely
Ely, Counselor at Law
Category: Estate Law
Satisfied Customers: 102522
Experience:  Fully licensed attorney in Texas in private practice.
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What is the maxamum fee in new jersey that a trustee administrator

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What is the maxamum fee in new jersey that a trustee administrator can chsrge for managing the trust?
Hello friend. My name is XXXXX XXXXX welcome to JustAnswer. Please note: (1) this is general information only, not legal advice, and, (2) there may be a slight delay between your follow ups and my replies.

This depends on the trust instrument (the document that created the trust).

If the instrument provides a fee schedule, then this is the schedule that that the trustee must adhere to.

If the instrument states that the trustee shall not be compensated, then they shall not be.

If the instrument does not provide a fee schedule, then the fee may be up to 6%. See here. However, the the fee must also be "reasonable," based on the work performed. If the parties cannot agree on what is reasonable, then either party may petition the Court to set the amount for whatever the work was which was performed, and any work going forward.

I hope this helps and clarifies. Good luck.

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