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Attorney & Mediator
Attorney & Mediator, Lawyer
Category: Family Law
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Experience:  Attorney & Certified Mediator
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how much compensation am I entitled to for being my mothers ...

Resolved Question:

how much compensation am I entitled to for being my mothers durable power of attorney. her estate is worth at least 200,000. She has provided a clause staing i receive reasonable compensation for my services.
Submitted: 9 years ago.
Category: Family Law
Expert:  Attorney & Mediator replied 9 years ago.
There is no set fee when you are acting as a power of attorney. Her estate's worth has nothing to do with establishing compensation. The estate's worth only comes into play for those who are the executor or attorney in handling her estate through probate.

For attorney in facts, you are entitled to reasonable fees, depending on what you are doing for her. For example, if you are acting as her nurse, you would get compensated at the rate as a nurse. If you are acting as an accountant, you would get compensated for what an accountant gets paid, etc...there is no set percentage established. This is all based on what the customary community standard is for such services rendered.

In deciding what is reasonable, you should consider thefollowing factors:
  • the customary fees for the services you are performing asagent;
  • any unusual skill or experience you have that you are using asagent for the principal’s benefit;
  • the amount of risk and responsibilities you have assumed asagent;
  • the time you spend in carrying out your duties as agent; and
  • any fee estimate you gave in advance.

Your fees as agent are reportable on your income tax returns asincome.

While many agents receive fees, it is not required for you to acceptany fees as agent. You can agree to serve without charging a fee.

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