0
What else can I help you with?
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 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.
Are executor fees taxable in New York state?
They are income for the executor. Yes, they are taxable.
What are New York state trustee fees?
Under the NY EPTL, trustees are entitled a fee for the execution of their duties with regards to a will. The exact fee amount is divided into tiers, depending on the value of the estate being managed.
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.
How much can a lawyer in New York State charge to probate an estate?
Fees vary by state, and they can add up: In New York, they are 5% on the first $100,000 of the estate, 4% on the next $200,000, 3% on the next $700,000, 2.5% on the next $4 million, and 2% on the rest. There may be other fees, such as court fees, accounting fees, bond fees, or other miscellaneous fees. If you aren't working with an attorney, you should contact the Surrogate's Court in your county and ask any specific questions you might have.
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.
How much is NYU Film School tuition?
Tuition for New York University Film School will depend on the type of student that you are. For state residents the fees will be least expensive, followed by fees for out-of-state students, followed by international students.
Cost to attend buffalo state college?
State University of New York College at BuffaloBuffalo, New YorkAnnual College Costs (Fall 2009)In-state tuition and fees: $6,007Out-of-state tuition and fees: $13,907Room and board: $9,186Books and supplies: $900Estimated personal expenses: $1,000Transportation expense: $1,100
What is the out of state tuition for Columbia University in New York?
Columbia UniversityNew York, New YorkAnnual College Costs (Fall 2009)* In-state tuition and fees: $41,316 * Out-of-state tuition and fees: $41,316 * Room and board: $10,228 * Books and supplies: $2,100 For the source and more detailed information concerning your request, click on the related links section (College Board) indicated at the bottom of this answer box.
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.
