QUESTION
Re: Trusts.....I ' ve a small irrevocable trust for my son (an ins. policy pod ). W/my sister as trustee. What's the cost otherwise (no family member)
Asked on Sep 29th, 2016 on Trusts and Estates - New York
More details to this question:
Presently, my small trust is handled by my sister w/no personal cost. What would the cost be if a change was needed w/a non family member as a trustee? (I am a NYSUT retired teacher)
1 ANSWER
1 Award
Corporate trustees do not take small trusts. Although there is a statutory commission rate which is based on gains in trust value, size of the trust, and distributions made, you are free to negotiate a different fee with an attorney or accountant.
Answered on Sep 30th, 2016 at 4:36 PM