Good Brother
Junior Member
What is the name of your state (only U.S. law)? California
My question is, what is an appropriate amount to charge my siblings for all the time I spent dealing with the business of our Mother's trust?
For the last 6 1/2 years I have managed our Mother's trust. It is a small trust consisting of only her past home (now a rental) and a checking account.
The first three years, while my mother was still living, required quite a lot of time, after her death, less time. All told I figure with paying bills, writing checks, making deposits, tax prep., tax consult, etc. I have conservatively 360 hours spent administering/managing the trust.
I also have many, many hours and transportation costs property managing the rental house, with a revolving door of 4 renters in 6 1/2 years. Now, we have listed the property and are in escrow to finalize the sale of the property. With many, many hours once again dealing with everything necessary to accomplish the closing.
All that said, what is a fair/reasonable fee to charge my sisters?
My question is, what is an appropriate amount to charge my siblings for all the time I spent dealing with the business of our Mother's trust?
For the last 6 1/2 years I have managed our Mother's trust. It is a small trust consisting of only her past home (now a rental) and a checking account.
The first three years, while my mother was still living, required quite a lot of time, after her death, less time. All told I figure with paying bills, writing checks, making deposits, tax prep., tax consult, etc. I have conservatively 360 hours spent administering/managing the trust.
I also have many, many hours and transportation costs property managing the rental house, with a revolving door of 4 renters in 6 1/2 years. Now, we have listed the property and are in escrow to finalize the sale of the property. With many, many hours once again dealing with everything necessary to accomplish the closing.
All that said, what is a fair/reasonable fee to charge my sisters?