Trustee fees in Pennsylvania can vary depending on many factors. Serving as a Trustee is a time-consuming job. Depending on the type of trust (including special needs trusts (or a minor’s trust) the role can become a full-time commitment. In fact, there are companies whose sole existence is to serve as trustees. Decisions must be made about all sorts of issues, including distributions to beneficiaries, selling or buying property, fees to charge, and advisors to hire.
Trustees in Pennsylvania often ask us what form of compensation they will receive for serving. Similarly, the individual who establishes a trust and the trust’s beneficiaries also prefer to know exactly how much of the trust’s resources will be used for administration.
Typical Pennsylvania Trustee Fees are Hourly, Flat Rate per Year, or a Combination of Both
In the trust dynamic, the principal sets the terms. If the trust document has not yet been drafted, the grantor can expressly state the compensation a trustee will receive. If the trustee does not feel the compensation is worth their time and effort, it is their right to refuse to serve. The types of compensation specified can be an hourly rate, a flat rate per year, a combination of both. Some trust documents may even stipulate that trustees serve with no fee. Most often, a trust will include a term specifying that a trustee shall receive ‘reasonable compensation.’
Trust Attorneys and Trustees often favor this term because it provides maximum flexibility. For instance, it allows a regular trustee to be compensated more for extraordinary work. This term will not scare a corporate trustee away from serving when all previously appointed trustees have stopped serving.
“Reasonable” is also the default compensation a court will apply when no compensation has been specified in the trust document. The sources of clarity on what is or is not reasonable are judge’s opinions. Making the question more difficult is that judge’s opinions differ based on county and circumstance.
For more information go to our Estate Litigation page. Go to our Breach of Fiduciary Duty page for information about Trustee duties.
Case Law on Trustee Liability
If you have questions about trustee fees in Pennsylvania or any other estate planning concerns contact our office for a free consultation.
Pennsylvania Estate Administration Fees
- Overview
- PA Probate Attorney Fees
- PA Executor Fees
- PA Trustee Fees
- PA Agent & Power of Attorney Fees
- PA Guardianship Fees
Peter Klenk is the founding member of Klenk Law, a seven attorney boutique estate planning law firm. We serve clients in Pennsylvania, New Jersey, New York, Minnesota and Florida. Peter Klenk received his Masters in Taxation LL.M. from NYU Law School and his J.D. from the University of Minnesota Law School. He served his country in the Navy JAGC during Desert Storm. Easy to talk to, feel free to call Peter for an appointment. We will make the process as easy as possible!
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I have worked with three different attorneys and law firms over the years, and I can confidently say that attorney Peter Klenk stands out as the most knowledgeable. He created the most thorough wills and trust documents I've ever had. Mr. Klenk took the time to gather all the necessary details about my current situation and goals. As a result, he put together comprehensive documents that I believe will effectively protect my assets and ensure my children's inheritance is secure.
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I knew I needed to update my Estate Planning documents created 15 years ago, yet I kept putting it off. Peter, in his no pressure way nudged me to finally check it off my list. The admin staff of Klenk law were very respectful and responsive in working with me to set up dates and times that work for me to talk with Peter over the phone regarding what I wanted to update. Peter answered my questions and explained some things to me. This helped me on some of my estate decision. After our phone talk, I received a draft of the updated documents, and was allowed ample time to review them prior to a final review with Peter over the phone. This pre-signing reviews made the in-person signing time very short. I would highly recommend Klenk Law, because Peter and his staff were professional but friendly, and thorough in the estate planning work they did for me. Thank you, Peter!
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