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!
(For reference, she and I both live in California, USA.)
Thanks in advance for any suggestions!