Can a non-professional family member trustee ask $50 an hour for Trust work?
Question Details: Our trustee is asking to be paid this money for the work that he has done. He currently wants $50,000 for handling a $400,000 estate. Do we, the other beneficiares have the right to request documentation, hours worked on transaction, phone records, etc. to justify his request? He also feels that he deserves $40,000 for handling the sale of the Trust's property, real estate agent fees, etc. The value of the house was $200,000.
Illinois does not have a statute that sets a trustees fees. It is determined under the statute that says "reasonable" compensation and "reasonable" is determined by the courts. If you think the fees are unreasonable and excessive you need to challenge them and you will need to hire your own attorney to do that. Good luck.
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