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How much time does being a successor trustee take?

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Nonnal

Junior Member
I have been asked by a friend to serve as a trustee in the event of her death. There are no known complications, but I do not know the value of the estate/trust other than that she owns property. Before committing to serving as a trustee, I would like to know how much time I should expect to spend in this capacity. I understand that it can take 1-2 years to fully close out the trust/estate/whatever, but am more interested on what kind of impact it will have on me on a day-to-day, week-to-week, and/or month-to-month basis. Are we talking 2 hours a day, 2 hours a week, 2 hours a month? I understand that trustees can be "reasonably" compensated from the trust, but I'm less concerned about reimbursement than about the impact on my schedule, family life, etc.

(For reference, she and I both live in California, USA.)

Thanks in advance for any suggestions!
 


Just Blue

Senior Member
I have been asked by a friend to serve as a trustee in the event of her death. There are no known complications, but I do not know the value of the estate/trust other than that she owns property. Before committing to serving as a trustee, I would like to know how much time I should expect to spend in this capacity. I understand that it can take 1-2 years to fully close out the trust/estate/whatever, but am more interested on what kind of impact it will have on me on a day-to-day, week-to-week, and/or month-to-month basis. Are we talking 2 hours a day, 2 hours a week, 2 hours a month? I understand that trustees can be "reasonably" compensated from the trust, but I'm less concerned about reimbursement than about the impact on my schedule, family life, etc.

(For reference, she and I both live in California, USA.)

Thanks in advance for any suggestions!
I think this is a conversation you need to have with your friend. There is not way, based on your post, that in MPO we can assist you.
 

LdiJ

Senior Member
I think this is a conversation you need to have with your friend. There is not way, based on your post, that in MPO we can assist you.
I agree. The amount of time it could take depends entirely on what kinds of assets have to be managed/liquidated/distributed.
 

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