Family member co trustee with corporate trustee

Asked over 2 years ago - Tampa, FL

Can the family member decline to take fees for his services if he decided not to or must he always take a fee? If circumstances change, can he either take a fee after not taking a fee or stop taking a fee after taking a monthly fee? Thanks

Additional information

The family member is a trustee but a co trustee

Attorney answers (4)

  1. Jeff Tomberg

    Contributor Level 14

    8

    Lawyers agree

    1

    Answered . a trustee has the right to be paid for his services.. like all people entitled to payment they have the right to waive that payment. the waiver of a payment at one time will not conclusively mean he has waived his right to payment at a later date. in most cases trustees can waive fees. but once the fee is waived they cannot reclaim that fee but can be paid for current fees.

    without a detailed review by a lawyer can all the issues raised in your question be appropriately addressed...... more
  2. John Arthur Smitten

    Contributor Level 18

    7

    Lawyers agree

    Answered . The trustee is entitled to be paid but can waive payment.

  3. Joseph Franklin Pippen Jr.

    Pro

    Contributor Level 20

    6

    Lawyers agree

    1

    Answered . Trustee can waive fee or partial fee. if circumstances change-can decide to start charging fee.

    The answer given does not imply that an attorney-client relationship has been established and your best course of... more
  4. James P. Frederick

    Contributor Level 20

    6

    Lawyers agree

    1

    Answered . I agree with Attorney Tomberg's answer. A Trustee would not be required to charge a fee. If they do not charge a fee, they can later change their mind. I would think that they may have waived the prior fees, however.

    James Frederick

    *** LEGAL DISCLAIMER I am licensed to practice law in the State of Michigan and have offices in Wayne and... more

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