What do trustees charge?
A. Each institution has its own fee schedule, and the amount charged under that schedule will vary depending upon the extent of the services that are rendered. In general, however, a trustee’s annual fee runs from 1/2 of 1 percent of the value of the assets being managed, depending upon the degree of management involved. It is very common for family members and close friends who are named as co-trustees to forgo all or a major portion of the fees they would ordinarily receive. However, in certain circumstances there may be income and/or estate tax benefits to their taking the fees.
