Am I paying a fair amount to somone taking care of my sisters trust fund? 7 Answers as of July 25, 2013

My mother stipulated in her will that a trust fund be set up for her sister to receive income from. Thus far, the lawyers' charges for doing so (most of which are said to be tax related) are $25,333. Does that seem legitimate?

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Ashman Law Office
Ashman Law Office | Glen Edward Ashman
Since you haven't told us how big the trust fund is in, the terms of the trust, how long they have managed it, and what the trust language is as to compensation, there is no way to answer you.
Answer Applies to: Georgia
Replied: 7/25/2013
Burnham & Associates
Burnham & Associates | Stephanie K. Burnham
If you have concerns about the attorney's fees you should review an itemized bill. If this trust was set up through a Will, you should ask the Court to review the attorney's fees for reasonableness. Without understanding the entire situation, what types of complexity there may be, and what issues have come up, it is very difficult to determine whether or not the attorney's fees are reasonable.
Answer Applies to: New Hampshire
Replied: 7/26/2011
Apple Law Firm PLLC
Apple Law Firm PLLC | David Goldman
Generally for management of a trust 2.5% is considered reasonable unless you consent to something else.
Answer Applies to: Florida
Replied: 7/26/2011
The Law Offices of Laurie E. Ohall, P.A.
The Law Offices of Laurie E. Ohall, P.A. | Laurie E. Ohall
That is a hard question to answer because you do not state how long the attorney has been handling the trust administration. The fees will also depend on whether the attorney you are using is board certified, what their hourly rate is, what part of Florida you are located, etc. There are a lot of factors to consider.
Answer Applies to: Florida
Replied: 7/26/2011
The Coyle Law Office
The Coyle Law Office | T. Andrew Coyle
This question is impossible to answer without more facts. We would need to know how long the trust has been running, what sort of tax implications were involved and how large the trust is. It is not uncommon for legal fees to hit six figures for multi-million dollar trusts.
Answer Applies to: Illinois
Replied: 7/26/2011
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