Video Blog: Does A Trustee Get Paid?

Attorney Jeffrey P. Coleman explains when it is appropriate to pay a trustee for their services during trust administration.

Video Transcript: 

When you are serving as your own trustee, obviously it would not make sense for you to compensate yourself for those services because it’s already your money and you have to pay taxes; but when a new trustee comes in, a successor trustee, they are certainly entitled to be compensated.

Most of those entitlements and the determination of their fees are established under Florida law you should seek assistance and have any questions answered when you are designating successor trustees; particularly if those successor trustees will be corporate fiduciaries.

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