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What else can I help you with?
What does cost of issuance mean?
typically they include (as they may apply) things like: trustee fees, escrow fees, bond counsel (for a tax opinion), disclosure counsel (for ongoing reporting of changes which would materially affect the bond holders), printing, study fees (feasability and the like), and accounting fees.
Are foreclosure fees tax deductible?
The answer depends on who paid the foreclosure expenses (bank, owner, trustee, beneficiary) and what the fee is. Need more information. It is always best to check with an accountant or certified public accountant (CPA) on tax deductibility of foreclosure fees.
Should audit fees be based on profits?
Audit fees should not be based on profits, as this could create a conflict of interest and compromise the auditor's objectivity. Fees linked to profits might incentivize auditors to overlook or downplay potential issues to ensure a favorable financial outcome for the client. Instead, audit fees should be determined by the complexity and scope of the audit work required, ensuring independence and integrity in the audit process. This approach maintains trust in financial reporting and the auditing profession.
What are the fees for HSBC accounts?
Yes, there are fees for HSBC accounts. Depending upon which type of account you have there are maintence fees and account service fees. Their montly account fees range from $2-$3 a month.
What banks allow a trust account?
Many banks and credit unions offer trust accounts, including major institutions like Wells Fargo, Bank of America, JPMorgan Chase, and Citibank. Smaller local banks and community credit unions may also provide trust account services. It's essential to check with individual banks about their specific requirements, fees, and account features related to trust accounts. Additionally, consulting with a legal advisor can help ensure compliance with relevant laws and regulations.
What is New york state revocable trust trustee fees?
I guess what ever is agreed upon that a court would find reasonable.
Will set up a trust but trust was not funded can the executor raid the estate to fund fees for himself as trustee?
No, he cannot. The offices of testamentary trustee and exutor are separate and distinct from one another even if the same person is to serve as both. Compensation for a trustee comes out of the funds in the trust for work done by the trustee on behalf of the trust. If the trust is unfunded, there are no assets out of which to pay fees to the trustee. Also, if the trust is unfunded then the trustee has done nothing to earn any trustee fees. Compensation of trustees and executors is governed by state laws, so it is important to check the laws of the state of probate for the details.
What are the New York state stuatory trustee fees?
Irrevocble Trust
In a New Jersey Irrevocable Trust what guidelines exist regarding permissible Trustee fees In a Trust with say 1000000 of assets can the Trustee justify annual fees of 100000 Thanks.?
As with any trust, unless there is specific language in the trust concerning limiting fees, you can charge just about anything that you can justify. The only concerns are: 1. Will any "interested party" object to your fees. 2. Is your justification realistic and really justified. 3. Do you think a judge/court would agree with your position. Unfortunately, in many trusts, it all comes down to who is looking, who has the money and time to challenge the trustee, and how honest is the trustee.
What is a non revocable trust fund?
An irrevocable trust is one in which the settlor (or creator) of the trust does not retain any control of the trust, and thus the trust cannot be amended. The reason that an individual would chose to create an irrevocable rather than revocable trust is that the money cannot be touched by creditors or anyone else. There are also money-saving benefits to the creation of an irrevocable trust primarily relating to probate fees and taxes.
How does an executor of a living trust get paid?
An executor of a living trust, often referred to as a trustee, is typically compensated through a fee outlined in the trust documents. This fee can be a percentage of the trust's assets, an hourly rate, or a flat fee, depending on the trust's terms. If the trust does not specify compensation, the trustee may negotiate payment with the beneficiaries or follow state laws regarding reasonable compensation for trustees. It's important for the trustee to maintain transparency with beneficiaries regarding their fees.
Is a trustee responsible for payment maintenance fees on a vacation timeshare before it can be sold?
All the fees have to be covered before a timeshare can be sold. Or they can be taken out from the sale proceeds. But if your asking is it a trustees personal obligation, NO. It's one of many things the trustee must do for the trust. As a trustee you must maintain and keep up all obligations of the trust and it's assets, not letting them deteriorate by neglect, etc. . Just like you'd make sure the lawn was mowed on a house or have the car washed that the trust may be marketing. Presumably, the timeshare is one of the trust assets. I don't think that it is the personal responsibility of the trustee. But a trustee must also do in any way possible to keep up the obligations of the asset. It is the responsibility of the trustee to check for the thrust and it's assets. If that's what you men by responsibility.
What is reasonable compensation for successor trustee in a living trust NJ?
In New Jersey, reasonable compensation for a successor trustee of a living trust typically ranges from 1% to 3% of the trust's total assets, depending on the complexity of the trust and the duties performed. If the trustee is a professional, such as an attorney or financial institution, their fees may also reflect standard hourly rates or specific fee schedules. It's essential for the trustee to document their hours and services to justify the compensation, and trust documents may specify the fee structure. Ultimately, the reasonableness of the compensation can be subject to review by beneficiaries or the court if disputes arise.
In an irrevocable trust is the trustee authorized to use trust funds for legal fees or defense fees associated with operating that trust?
Typically, the answer is yes. The final answer in each case, however, is dependent upon (a) what the terms of the trust agreement provide, and(b) the applicable state law. In addition, the amount of compensation paid from the trust for legal services sometimes is limited by state law or the terms of the trust to "reasonable compensation", which also is a term of art that varies from jurisdiction to jurisdiction. A reasonable attorney fee charged in New York City may not be reasonable if charged in El Paso. Finally, a trustee who is found to have violated its fiduciary duties may be required in some instances to reimburse the trust for legal fees paid from the trust in defense of such violation.
What should I know about 401k rollovers?
You should about the roll-over fees if any. The roll over fees could be a massive 20%. From what I know, a trustee to trustee rollover may prevent some of those fees.
How much should you pay a trustee?
The compensation for a trustee varies based on factors such as the complexity of the trust, the trustee's experience, and the time invested in managing the trust. Generally, trustees are entitled to reasonable compensation, often calculated as a percentage of the trust's assets, typically ranging from 0.5% to 2% annually. It's important to review the trust document for any specified fees and to ensure that the compensation aligns with state laws and standards for fiduciary duties. Consulting with a legal or financial advisor can also provide guidance on appropriate compensation.
What is reasonable compensation for trustee in disclaimer trust in pa?
In Pennsylvania, reasonable compensation for a trustee managing a disclaimer trust typically depends on various factors, including the complexity of the trust, the amount of assets involved, and the trustee's experience and responsibilities. Generally, Pennsylvania law allows trustees to charge a fee that is either a percentage of the trust's assets or an hourly rate, often ranging from 1% to 5% of the trust's value annually. It is advisable for trustees to document their fees and ensure they are consistent with any guidelines set forth in the trust document or applicable state laws. Consulting with a legal or financial professional can also aid in determining appropriate compensation.
