Question: My sister and I are co-trustees of our parents’ trust, who are both now deceased. Are the administrative fees, which we both want to collect, considered separate from the trust? [...]

Question: Should your trustees on your revocable trust be the same people as those named on your durable power of attorney? Do you recommend bank trust departments for powers of attorney? [...]

Question: When issuing a K-1 to a trustee of a decedent’s irrevocable trust for trustee fees, how should this be reported? Should it be reported as Other Portfolio and non-business income? [...]

Question: Is a trustee fee paid to the wife from her husband’s Revocable Trust taxable income to be reported on a married filing jointly federal tax return? Response: Arguably yes, but I [...]

Question: My trustee charges me for phone calls and responding to my emails – is this legal? Response: Yes, unless it adds up so much that a court would find the total charges unreasonable. [...]

Question: I am trustee of an irrevocable trust holding $25,000. I now want to cash out the trust — half to my brother, the other half to me. What kind of tax do I have to pay in New York? [...]

Question: I served as trustee and POA for a friend who was ill for over 4 years. The estimated assets were approximately $2 million at the time I assumed responsibilities for her 12 registered [...]

Question: My brother and myself are the trustees of an irrevocable family trust from my deceased parents in Maryland. The trust has 5 beneficiaries (5 siblings). We just sold and closed on my [...]

Question: My brother-in-law passed away. His sister was his power of attorney and a trustee of a special need trust. After she became p-o-a she changed his beneficiary of an iron worker’s [...]

Question: I’m the trustee of a rental property worth $120,000 and brings in $1,400 a month. Do I charge a fee based only on the value or also the income and what percent? Response: In your [...]