What is the name of your state? California
I am the Trustee of a Living Trust worth somewhere around 1.5 million. The Trust states that the Trustee is entitled to "reasonable" compensation for managing the Trust. I live in Colorado and need to take about 3-4 trips to California per year to check on the Ranch, do maintenance, improvements to the barns etc. etc. I also am the POA for this man and am his health care agent. I set up Doctor's appointments and make sure his health care is done corrrectly etc. It basically is a lot of work and time but I am retired so it gives me something to do.
I do not want to take any money while this man is alive. He is currently in an "assisted living facility". I do not want to take any of his money now because I want to be sure he will have enough to last his lifetime.
Can I keep track and then take the fee after he passes? As far as a fee is concerned, how do I determine what the fee is ? I have a Trust Attorney and an Accountant that help me with all this to make sure things stay legal etc.
I am trying to determine what type of fee I should charge for my personal services.
I am the Trustee of a Living Trust worth somewhere around 1.5 million. The Trust states that the Trustee is entitled to "reasonable" compensation for managing the Trust. I live in Colorado and need to take about 3-4 trips to California per year to check on the Ranch, do maintenance, improvements to the barns etc. etc. I also am the POA for this man and am his health care agent. I set up Doctor's appointments and make sure his health care is done corrrectly etc. It basically is a lot of work and time but I am retired so it gives me something to do.
I do not want to take any money while this man is alive. He is currently in an "assisted living facility". I do not want to take any of his money now because I want to be sure he will have enough to last his lifetime.
Can I keep track and then take the fee after he passes? As far as a fee is concerned, how do I determine what the fee is ? I have a Trust Attorney and an Accountant that help me with all this to make sure things stay legal etc.
I am trying to determine what type of fee I should charge for my personal services.