Trusts and estates are subject to most of the same tax rules that apply to individuals. e. Order - Approval of First Account & Report of Trustee; Settlement; Fees & Cost to Turstee & Atty June 16, 2023. Normally, the trust administration fees run about 15% to 30% higher than normal published fees. 50. This element is particularly significant in the state of Maine. S. See also Compensation for general remarks on executor compensation. The total amount of the Seller fee depends on the subscription plan selected. Trustee fees will be presented to the beneficiaries and filed with the probate court. The settlor and trustee must prepare a trust deed, which sets out the terms of the trust. Trustap's online and face-to-face transaction models are designed to provide users with peace of mind going into a transaction with a stranger. Form 1041 is an income tax return for estates and trusts. Overseas transaction that worked well with the seller. A testamentary trust is a type of trust that’s created in a last will and testament. 5. Distribute trust assets outright. 50 per $1,000 of the first $400,000 of the principal of the trust. Trustap API | API Reference. The intricacies of estate planning involve a multitude of elements, one of which is the structure of Trustee fees. The Supreme Court held that the latter provision limits its. The decedent may have left written. The investments have been pledged as security for holder of the notes payable. Assessing the damages available for a claim for breach of fiduciary duty requires that a litigant carefully consider the question of which state’s law will apply to a breach of fiduciary duty claim. Online Payments: You can complete the whole transaction online safely and. If they do, it could be an hourly rate, which might range from $25 to $100 per hour, a flat fee, or a small percentage of the trust's assets. Ironically, the larger the estate, the lower the percentage typically is. Trustee Fees by Type of. For example, a 1% fee for a trust that holds $100,000 would be $1,000 annually, and if the trust isn’t producing income then paying the trustee that much a year could make operating the trust unfeasible. Executors for NY estates are entitled to compensation of 2%-5% of the funds received or paid out, depending on overall amount. Schwab: 2023 Comparison. 99 . There have times for beneficiaries may choose to dispute the fee, exceptionally if the trustee’s compensation is excessive or wenn the. If the grantor (the person who created the trust, also known as the trustor) was also the trustee, upon their death the trust assets may pass to. This is simply the sum of the agreed transaction price and the Trustap fee. Such language will leave the trustee in a better position to. 3% on the first $1 million, from 0. In Florida, a notice of trust is the formal notice that a trustee provides to the public that the trustmaker has deceased. Trade Guardian leverages a third party called Trustap to "verify" users. This may be an emotionally stressful time, and navigating through a loved one’s financial affairs can be challenging. Feel free to message directly for additional info. Managing a trust can be similar to a full-time job, so it is reasonable for the trustee to at least be paid standard trustee fees for their work. directed trusts. The total fee is the total amount from the buyer’s account. Whether you’re a buyer or a seller, Trustap's secure online payment app works like a safety net for you. Easy to use and very convenient. Our office hours are Monday - Friday, 8 a. A percentage-based fee is typically charged for larger, more complex trusts. to 5811. Trustap wants info like social security number, address, and bank account in order to verify someone, which is super intrusive! If I'm not going to use Trustap for payment anyway,. 00 (minimum) for annual federal & state tax returns combined. The fee depends solely on the amount of money that is being transferred. The monies keep freeze until both seller and buyer confirm the transaction. ”. Executor and trustee fees. Comerica Trust offers specific delivery channels focused on the needs of individuals, families, and institutions. m. Let’s quickly review the basics. For all their differences, Chapters 7 and 11 bankruptcy have several things in common. Zero Selling Fees – Trustap’s payment solution relies on the buyer to pay a small fee in return for protection, meaning there are zero transaction fees for the seller. 50 fee. With over 135 countries covered in collaboration with our partner Stripe, the world’s most secure payment system, Trustap provides cross-border transactions in all major jurisdictions. 47%. Your bankruptcy case may be dismissed if you don't complete all your obligations as a bankruptcy filer under the Bankruptcy Code. We are a national program with broad administrative, regulatory, and litigation/enforcement authorities whose mission is. However, for trusts, this statutory fee schedule is not mandatory, and the actual trustee fees can be subject to the terms of the trust or the agreement between the parties. S. 5% to 2% of the trust's assets per. A revocable trust would not bear these costs. So, for example, the annual fee for a trust holding $1 million could be between $10,000 and $20,000. All filings except Biennial Statement - per document (in addition to filing fee) For processing within 2 hours. 10, R. Investments of $50,000 or more are charged 0. S. They even share some of the same percentage tax brackets, but the boundaries of the tax brackets occur at. S. Appraisal fees; Executors’ commissions; and. How are Trustees Paid? The structure of trustee fees in Arizona can be influenced by the type of trustee, the complexity of the trust, and the agreement made when the trust was created. The trustee fees and other costs of liquidating the estate are estimated to be P60,000. Scott Ward Nov. From trips to the doctor to everyday care like cold medicine and first aid kits, simply pay using your HSA card and you're all set. Whether you're a corporate entity, a professional, or an individual acting as a trustee, understanding the financial aspects involved can significantly impact the. reserved part e. Consider: The automatic stay — instantly blocks most creditors from harassing you for payment; the stay stops wage garnishments, levies, and certain lawsuits. Unfortunately, the statutes are devoid of any reference to what amounts to “reasonable” compensation or how to determine whether fees sought by a trustee are per se reasonable. 50% to 1. In this article, we'll look at the typical fee ranges for different types of trusts, when trustees are paid, and whether trustee fees are considered taxable. 71% to 0. The Florida Supreme Court has set forth factors to be considered for trustee fees. 89%. 95 + 6% of item value. This element is particularly significant in the state of North Carolina. For trusts which fall under this fee schedule, this tax preparation service from AE-Trust or itsCertain fiduciary expenses not commonly incurred by individuals, such as probate court fees and costs, fiduciary bond premiums, legal publication costs of notices to creditors or heirs, the cost. Pick a reasonable hourly rate. By allowing buyers to pay via Trustap, giving them that peace of mind, sellers using Trustap are getting up to 4 times more responses to their adverts. Trustap on the other hand does not charge an additional price for international transactions. comDirectionsDirections. Set by the Estate Administration Tax Act, 1998 S. The grief felt as a result of losing a loved one is often overwhelming. S. The judge can then order lower fees if. Depending on the trust structure, a grantor may receive tax advantages for using an irrevocable trust. We’ll work with you and your legal advisor to put together a personalized plan that will help your heirs enjoy the future you envision for them. Tennessee Property Viewer. 5 million on hand and will begin paying back unsecured creditors, who have $332 million in claims. Once you are no longer employed there, the rules change. Like a family member, this person likely understands the family background, including beneficiaries' personalities. 5% of the trust’s assets annually, and the percentage can. Trustap API | API Reference. Going through Trustap for the transaction. A recent article published online by Wealth Advisor reports on a survey of the fees charged by national trust companies which are consistent with the information above. by any related expenses (i. On amounts over $25,000, the fee percentage rate is 0. Note that any such fee arrangement is subject to the approval of the probate court, which reviews the fees to ensure they are reasonable and commensurate with the trustee's duties. Fees paid to any professionals associated with the settling of the estate, including the executor, attorneys, accountants or real estate agents if a home or land is being sold; Taxes, including income tax, estate tax and property tax; Incidental costs, such as recording fees, mileage reimbursements for the executor and notary feesTrustee Fees Under the Hawaii Probate Code: Can the Court Approve Trustee Fee Schedules? 10 HBJ, no. An executor and trustee are both fiduciaries in an estate plan, but they have a legal obligation to a different set of interests. The payment options can be used to pay the fee for Trade Guardian/MM service, but for the main payment, the buyer pays the seller directly. EN; FI; HR; IT; MS; PL; SV; trustapInstitutional trustee services benefits. Depending on the complexity of the case, it may cost. Professional fiduciaries, licensed by California’s Professional Fiduciaries Bureau, charge in the neighborhood of $100 to $150 per hour. $4. The income that is either accumulated or held for future distribution or distributed currently to the beneficiaries. *A $750 onetime set-up fee. Most advisory, tax preparation, and similar fees are categorized as miscellaneous itemized deductions. All Illinois Courts must accept these forms. Marie-Ann Greenberg, Chapter 13 Standing Trustee. you can use any method both parties agree to. Once appointed to their role, the Successor Trustee should take the following steps to ensure proper administration of the trust: Obtain a copy of the trust agreement (Declaration of Trust) and other legal documentation. The order confirming the plan made clear that statutory fees owed to the U. The trustee has a fiduciary duty to a trust and is responsible for distributing trust assets, while the executor manages an estate and distributes estate assets according to the last will and testament of the deceased. SECTION 1007. Rul 72-86. Get Snug. New Jersey law sets base compensation according to the gross value of the estate: 5. What are the advantages of Trustap? • Zero Selling Fees. Our expert fraud team takes care of any chargeback response for you. 970-244-1833. $500,000. - 4:30 p. age rate (for car expenses) plus any parking fees, ferry fees, and tolls. Easy to use and very convenient. So for a trust with $5 million in assets, the fee would work out to $50,000 a year. Phone: (585) 263-5812. Discussion and possible motion to authorize the proper Village officials to execute the appropriate2 advice with respect to your specific trust. Knupfer, 391 B. The total amount, and the currency of, the Funds standing to the credit of the Trustap Hold relating to the Transaction in question; The Fees, Maintenance Fees and. ET, Monday through Friday for assistance by phone. Most such professionals charge an annual fee of between 1 and 2 percent of the assets in the trust. In contrast, non-professional trustees, who are often family members or trusted acquaintances of the trustor, usually operate with lower fees. If they do choose to take a fee, it could be an hourly rate, which might range from $25 to $100 per hour, a flat fee, or a small percentage of the trust's assets. Pursuant to 11 U. Pre-TCJA, for an individual, these fees were deductible to the extent they exceeded 2% of adjusted gross income. The trustee can write the beneficiary a check, give them cash, and transfer real estate by drawing up. A legal document by which a person directs his or her estate to be distributed upon death. Fees for issuing a land map. Contact an Oklahoma City Trust Administration Lawyer. 2% Statutory Probate Fee. Under Knight, fees paid to an investment adviser by a nongrantor trust or estate are generally miscellaneous itemized deductions subject to a floor of 2% of adjusted gross income (AGI), rather than fully deductible as an expense of administering an estate or trust under Sec. Percentage of the bankruptcy assets. Stratton. 98 fee Between $25 and $50: 5% + $4. After payment of the trustee’s fees and the income distribution to W, the trustee will have approximately $31,500 cash remaining from the $40,000 partnership distribution in order to pay the $31,000 of tax liability. This web site is part of the Chapter 13 Trustee's service to the bankruptcy community in the Northern District of Illinois. S. Trustap is an online escrow service that allows buyers and sellers to make secure financial transactions face-to-face and online. In simple terms, trustee fees are essentially a payment for services rendered. Professional trustees often charge a flat fee or a percentage of the trust's assets. Edward Jones Trust Company provides three different levels of service based on your current and future needs: Managing Agent – We can simply provide you investment and administrative services for a trust, a personal account or an Individual Retirement Account. Some states have set a maximum percentage that a trustee can charge. Subsection (b) of this section entitles an operating trustee to a reasonable fee, without any limitation based on the maximum provided for a liquidating trustee as in current law, Bankruptcy Act § 48c(2) [section 76(c)(2) of former title 11]. So, for example, a New Jersey estate worth $100K would yield $5K in executor fees, and one worth $600K would generate $24K in. Best International Stock Funds. 3. In New Jersey, the estate executor is known as a "fiduciary". While oversecured 2 creditors can rely on Bankruptcy Code §506 (b) to assert claims for at least the "reasonable" attorneys' fees provided for in loan documents, courts are all over the map on the allowability of attorneys' fees for unsecured and. *This probate fee calculator is for informational purposes only and should may not be considered nor relied on in place of legal advice as it is only a. Trustap reserves the right to contact the other party to confirm that the item has not been exchanged yet before cancelling the transaction. These are indicated on the estate or trust’s final K-1. The longer a trust is open, the more costly it becomes due to extended maintenance costs and trustee fees. Trust services are provided by Vanguard National Trust Company, which is a federally chartered, limited-purpose trust company operated under the supervision of the Office of the Comptroller of the Currency. For the quarter during. C. Your Safe Escrow-Style Payment Platform. That is, trust income and deductions are attributed to the grantor as if he or she owned the trust or a. When it comes to estate planning, one of the significant factors to consider is the trustee fees. S. Fx: 720. 6. DO NOT include interest income on obligations of the state of Kansas or any Kansas political subdivision issued after December 31, 1987, or the following bonds exempted by Kansas law:The trustee, Elissa Miller, has $19. e. The fees for professional trustees are usually calculated as a percentage of the trust's assets or as a flat fee, depending on the complexity and size of the trust. Trust value is about $3. 2079 E. Trustees must report the fees they receive as income on their personal tax returns. Contact. m. Filing Fee: $30 (R. Access to the courier tracking information for real-time access to the progress of your delivery (for. Other trust fees Section B | Financial accounting and tax Dissolution or Distribution fee This fee is calculated on the market value of the trust at the date of dissolution (termination of trust) or when more than 25% of trust capital is distributed within a 12-month period. P717,800 c. Date of experience: November 30, 2022The United States Trustee Program is the component of the Department of Justice responsible for overseeing the administration of bankruptcy cases and private trustees under 28 U. Phone assistance in Spanish at 844-4TRUIST (844-487-8478), option 9. 9 reviews. There are no set rules for calculating the amount trustees can charge for their time. In 2006, Countrywide financed 20% of all mortgages in the United States, at a value of about 3. Professional trustees rarely charge less than a 1% of the total worth of the estate as a fee. The typical fee of a trustee tends to be between 1% to 2% of the trust's value. For these trusts, a family member (non-professional trustee) may serve without compensation, but if a professional trustee is hired, the fee might range from a flat yearly fee of $2,000 to $5,000 or a modest percentage of the trust's assets. 261). The fee covers the cost of providing our service and protecting your money. Even if there is no initial filing fee, you still have to pay other fees and costs for the action, such as citation, summons, or copy fees. The trustee fee arrangement varies depending on the state fee schedules for trustees and the specific terms and conditions written out by the trustor. 5% on the next $800K. Non-Professional trustees, on the other hand, are often chosen for their close relationship with the grantor and the beneficiaries. As such, the grantor is taxed on the trust’s income and reports its deductions. 1. Trustee's Sale 6566 Ludwig Road, Richmond, Virginia 23225 (Parcel ID: C0070310012) Default having been made in the terms of a certain Deed of Trust dated July 11, 1994, in the55 E Monroe St, Suite 3850 Chicago, IL 60603. The Tax Cuts and Jobs Act may have cut tax deductions for financial advisor fees, but you can still find handy tax breaks. 85% on the first $100,000 2. This platform protects users from being scammed when buying or selling with strangers. A trustee can be an individual or an organization, such as a bank, wealth management company or other financial. com to have the cases merged. All trustee fees must be approved by the probate court, which reviews the fees to ensure that they are reasonable and commensurate with the tasks performed by the trustee. Below is a breakdown of these rates and brackets: $0 – $2,900: 10%. 795 or 164. In simple terms, trustee fees are essentially a payment for services rendered. 00 per year and pass away with $2 million in trust assets, that is a pretty small fee and likely to cause your chosen trustee not to serve. waiver of notice and hearing ii. R. Section 1930 would be paid on the plan's effective date and obligated the reorganized debtors to file post-confirmation reports and pay quarterly fees to the U. rule 120 acknowledgment of conservator’s authority (a) application (b) acknowledgment rules 121-124 reserved . TrustAp (EpicNPC Trade Guardian Escrow): If paying using EpicNPC Trade Guardian for TrustAp. § 521 (e) (2), although a trustee does have discretion as to when to file a motion or take other action. management and administration, the fees are as follows: 750. Read court documents, court records online and search Trellis. 25 (B. Marcaria. Raleigh, NC 27601 (919) 733-4111 (Main) (919) 715-7586 (Fax)If you would like to discuss how Schwab can provide professional trustee services for your personal trust, email us or call 877-862-4304 to speak with a Regional Trust Services Consultant. In this article, we'll look at the typical fee ranges for different types of trusts, when trustees are paid, and whether trustee fees are considered taxable. The powers and duties of the office of the Public Trustee and procedures for the operation of the office are defined in Title 38 of the Colorado Revised Statutes (C. Trustee Fees. The Adams County Government Center is. They are based on a mixture of case law, charity law, and good practice. A Successor Trustee is also responsible for the Trust in the event the Grantor becomes incapacitated or unable to make decisions. Use our Voucher services to get detailed information. viii. O. 98 fee Above $50: 8% +. What if a beneficiary contests a trustee fee? Several possible results can occur if a beneficiary contests a trustee fee. Transaction Fees. 22 November 2023. Trustap receives a fee for the service. Releases of Deeds of Trust. If the end of year value of all the assets in the trust was $500,000, the. However, there is a very specific process you must follow to create one. Probate. to 4:00 p. The federal estate tax threshold increased to $11,180,000 for 2018 and will be $11. Helping businesses choose better software since 1999Probate fees in Ontario - more formally known as the estate administration tax is a fee that is paid once the estate trustee applies for the certificate of appointment. 662-371-4110info@esapllc. Please look at the Pricing tab in the Basics section for more detail. We understand. m. Attorney fees. S. Student Seats provides a secure, unique platform for college students to buy, sell, and transfer their student section tickets. The transaction fees work like Buyer Protection so, for. So, for example, if a trust earns $10,000 in income during 2023, it would pay the following. Get Snug. Your account will be immediately lock, and you will be prohibited from using the. Any income tax liability of the estate or trust. TrustAp (EpicNPC Trade Guardian Escrow): If paying using EpicNPC Trade Guardian for TrustAp. 52% for acting as Trustee of the Growth Trust, less any applicable management fee rebates for amounts over $100,000 invested in the Growth. $150. The standard fees are outlined above. Here is our calculator to assist with the math:1. 4% of the average market value of the assets. Starting Price: 1% volume (min fee $20) View Service. 638, The net free assets should be: a. Seller fees → Student Seats Free Trustap fees Free. Whether selecting us as your trustee or investment manager for trustee, you put to work a team of professionals who are committed to adding value to your trust. The statute does not set forth a methodology for calculating "reasonable" trustee's fees or otherwise explain which circumstances should be considered. (B) "Ascertainable standard" means a standard relating to an individual's health, education, support, or maintenance within the meaning of section 2041(b)(1)(A) or 2514(c)(1) of the Internal Revenue Code. , attend one of our free upcoming virtual Estate. Download iOS App Seller fees → Student Seats Free Trustap fees Free Buyer fees → Less than $25: 0% + $4. In most cases, it will be the buyer who initiates the process and so they will most likely be. Trustee fees are paid out of the trust’s assets. Starting Price: 1% volume (min fee $20) View Service. 523. This is simply the sum of the agreed transaction price and the Trustap fee. The monies keep freeze until both seller and buyer. Many Chapter 13 trustees. A trustee can be an individual or an organization, such as a bank, wealth management company or other financial. Whatever the reason, in the absence of clear consent as the fee accrues, reaching back for a fee is unlikely to sit well with the beneficiaries. The menu gives users the option to visit their recent transactions, go to their profile, create a transaction or join a transaction. 550% Minimum Fee $500. Directors fees are generally subject to self employment taxes, however, honorarium and inherited payments are not. 98 fee Between $25 and $50: 5% + $4. In this article, we'll look at the typical fee ranges for different types of trusts, when trustees are paid, and whether trustee fees are considered taxable. For the most part, corporate trustees are compensated through a percentage of the trust’s assets, typically between 1% and 2% per year. Get Snug. Fees are determined by several factors such as the complexity of the trust, the types of trust assets, and whether the trust terminates or continues. MM SERVICES ARE CONDUCTING ON-SITE ONLY. Trust checking. rule 119. 8 (the “Final Rule”) became effective. To figure the estate's AGI, see the Instructions for Form 1041. Trustee disbursements on your bankruptcy claims. 98 fee Above $50: 8% + $7. state and local taxes and trustee fees discussed therein are solely indirect expenses and, thus, not allocated to QBI. 3513. 4-Oct. Effective October 1, 2023, the statutory fee for Edward A. 50, then the total amount coming out of the buyer’s account will be $51. Cisowski Law Chapter 13 Calculator is an algorithm that uses 4 pages of information from the user and combines them with a number of assumptions, legal rules, and standard variables to reach a precise approximation of what your Chapter 13 repayment plan monthly payments would end up being. You may have questions, or maybe you aren’t sure where to start—we’re ready to help. This allows users to know ahead of time how much it will cost to use. § 101, et seq. For assistance in accessing your account for the first time, please contact your Client Advisor. Trustap is not liable for any costs associated with the return. Chargeback. Because mastering their use take time, many estate planners do not use Irrevocable Trusts. Released. Case Title: Marci L. § 1. (1) If the trustee of a revocable trust retains an attorney to render legal services in connection with the initial administration of the trust, the attorney is entitled to reasonable compensation. Listen. First, under California Probate Code §17200, a beneficiary can submit a petition to the probate court to set trustee fees or review the reasonableness of the trustee’s compensation. (731) 584-6211. Published. Example 3: Estate of $150,000. 8% of the trust balance, collected in monthly payments. $75. Name. We listen to your goals and priorities and collaborate with you and your attorney to determine the right structure for your will, trust or entire estate plan. § 101, et seq. The percentage usually ranges from 0. On June 21, 2021, the United States Trustee Program’s rule entitled Uniform Periodic Reports in Cases Filed Under Chapter 11 of Title 11, published at 28 C. Special schedules are additional. 90%. Since the accounting fee arrive from of the real trust cash, it necessarily affects the patrimonies from trusts beneficiaries (as the payment of trustee fees leaves less money available for distribution the beneficiaries). Please, contact HFS to confirm the. A percentage-based fee is typically charged for larger, more complex trusts. (Fee rates decrease at higher asset levels) $25,000. For example: If one user buys a ticket from another user for $50, and the Trustap fee is $1. The reason is simple. However, there are some common guidelines. (A) A trustee shall administer the trust solely in the interests of the beneficiaries. § 1930 (a) (6) and, to the extent applicable, accrued interest thereon arising under 31 U. Within 20 business days after receipt by the trustee of statement of affairs (SOA). At Autumn Statement the government has announced a comprehensive package of pension reform that will. case number rule 142. C. We’ve been administering trusts for more than 100 years. “Reasonable” trustee fees are only what a court determines to be reasonable. 12 of the Revised Code, a sale, encumbrance, or other transaction involving the investment or management of trust property entered into by the trustee for the trustee's own personal. These complimentary resources cover what they charge and much more. Trustap receives a fee for the service. Compare Fidelity and Schwab on factors like investment selection, commissions and fees, customer service and trading platforms. Collection of principal and interest on called bonds, redemptions and maturities. 2. C. Some counties no longer follow a set percentage award of fees, but examine the time. 98 fee Between $25 and $50: 5% + $4. Check Capterra to compare Square Payments and Trustap based on pricing, features, product details, and verified [email protected]% for the first $2 million, 0. The value of your investment will fluctuate over time, and you may gain or lose money. Often, professionals charge a higher percentage of smaller trusts and a lower percentage of larger trusts. Florida Statutes provide that successor trustees are entitled to trust administration fees based upon a percentage of the value of trust assets and atypical legal issues, if any, that are part of trust administration. Bankruptcy Judge Barry Russell, in the Central District. Section 8 of chapter 44B of the General Laws, as so appearing, is hereby amended by striking out, in lines 3, 8 and 23, the figure “$20” and inserting in. Apply for probate. The cost of contesting a trust can vary, depending on what you pay toward court fees and attorney’s fees. The seller is also notified about the dispute. 5. For these trusts, a family member (non-professional trustee) may serve without compensation, but if a professional trustee is hired, the fee might range from a flat yearly fee of $2,000 to $5,000 or a modest percentage of the trust's assets. When you have completed the trade and received your wine, spirit or money, then you can rate the other party to give other users a good idea of who are good to trade with. Fiduciary and trustee fees and commissions; The allowed exemption for an estate or trust; The Treasury Decision results in the beneficiaries being able to deduct these items as an adjustment to income on the beneficiary’s Form 1040. The buyer submits a complaint to Trustap and is then contacted by the Customer Service team to begin the Arbitration process. Administration of an estate or trust comes with costs and accurate record-keeping ensures that available deductions are used. S. Note: The individuals listed are private parties, not government employees. Trustap, as an Escrow Payment Style platform, helps ensure fair resolutions and minimizes potential conflicts. The auction supervisory fees are at a rate of 1% of the sale value (maximum of AED 30,000). Our approach to trusts and estates. An estate planning attorney can charge a flat rate, an hourly fee or a contingency fee. A versatile and flexible payment solution with infinite possibilities. Trust Taxes and Distributions. Access for your users to an Online and Face To Face. Fees for managing smaller trusts aren’t calculated by percentage because it could eat up a lot of the trust funds. The Successor Trustee definition is especially relevant when creating a Revocable Living Trust. This fee is derived from and equal to the fee prescribed in 28 U. The factors that influence trustee fees can vary based on the type of trust and the complexity of its administration. This section summarises the main points for charity trustees to consider. Your driver's license number.