PROFESSIONAL FIDUCIARY FEE RANGE SCHEDULES
A. TRUST ADMINISTRATION: Each Trust is reviewed separately according to the required duties of the Trustee as needed in the Trust, the assets, and other professional contractors, managers, etc. that may be retained. Ordinarily the Trustee is entitled to fair and reasonable compensation unless the Trust instrument specifies otherwise. If the Trust is not specific then the following Ordinary and Extraordinary Fee schedules will apply:
1. Ordinary Services Fee Schedule:
Ordinary monthly trustee fees charged are calculated based on the total market value of Trust assets under management as determined on an annual basis, as detailed below.
ANNUAL PERCENTAGE RATE CHARGED:
1.10% First $1,000,000
1.00% Next $4,000,000
0.75% Next $5,000,000
0.60% Next $10,000,000
0.50% On Balance
* Total Market Value includes Real Estate Value
Examples of ordinary services are:
· Locate, identify and marshal Trust assets
· Determine value of assets
· Notify creditors
· Maintain complete and accurate records of each financial transaction affecting the Trust.
· Re-registration of Assets
· Safekeeping of Assets
· Investment Management
· Collection of Income
· Determine appropriate and adequate insurance coverage for trust assets
· Bill Paying
· Payment of Estimated Taxes
· File Insurance Claims
· General correspondence with beneficiaries
Minimum Annual Fee: $10,000.00
If special or extraordinary services are rendered, Trustee shall be entitled to additional compensation as provided for in the Extraordinary Services Fee Schedule below:
2. Extraordinary Services Fee Schedule:
When special or extraordinary services are performed or responsibilities are assumed by the Trustee in the administration or operations of any account, additional charges will be made, based upon the following hourly rates billed at six (6) minute intervals:
Administrative Duties Performed $195.00 per hour
Court appearances $195.00 per hour
Real Estate Transactions/Management $220.00 per hour
Business Administration/Management $250.00 per hour
Participation in or Preparation of Tax Returns $195.00 per hour
Bill Payment & Technical Support $90.00 per hour
Examples of special services are:
· Duties required in the management of a business or closely held corporation.
· Services and responsibilities in connection with foreign securities, defaulted or nonproductive securities received in an account or with securities that may be involved in foreclosure, refinancing, or reorganization plans.
· Services and responsibilities in connection with the sale or purchases of Trust Real Property and property management.
· Services performed in making unusual or extraordinary repairs or alterations, or improvements on real estate, shoring buildings, negotiation with insurance companies regarding insurance claim or fire loss insurance and rebuilding programs.
· Extended negotiations relative to sale of a major asset, or extraordinary services required relative to its care, retention, or disposition.
· Cases involving complicated circumstances or more than usual responsibilities or repeated attention in the exercise of discretionary powers for the distribution of principal or income.
· Litigation/Non-Judicial Settlements.
· Holding Notes & Mortgages, or Oil & Gas interests.
· Initial charges based upon involvement in auditing, accounting, account set up and re-registration of assets.
· Environmental Surveys.
· Micromanagement of assets or distributions or actions of beneficiaries.
B. PROBATE ADMINISTRATION FEES
1. Compensation for Ordinary Services. The Personal Representative is allowed compensation for their services. The amount of compensation for "ordinary" services is fixed by California statute and is based on the overall value of the estate. This value generally includes the inventory value of the probate estate and income received, less any losses incurred during the administration of the estate. Compensation is not paid until after the court orders payment. Fees for ordinary services are calculated pursuant to California Probate Code Section 10800, as follows:
· 4% of the first $100,000
· 3% of the next $100,000
· 2% of the next $800,000
· 1% of the next $9,000,000
· ½ of 1% of the next $15,000,000
· For All amounts above $25,000,000, a reasonable amount to be determined by the court.
* The same schedule is used to determine the compensation paid to the personal representative’s attorneys for their "ordinary" services.
2. Compensation for Extraordinary Services. In addition to statutory commissions and fees described above, the Probate Court may authorize payment of additional compensation to the personal representative for extraordinary services rendered in the administration of the estate such as, but not limited to, tax issues, real property sales and litigation. The hourly rate range charged for extraordinary services will be $195.00 - $250.00 per hour.
C. AGENT UNDER POWER OF ATTORNEY/AGENT UNDER HEALTHCARE DIRECTIVE
· Professional Fiduciary hourly rate: $195.00
· Support Staff hourly rate range: $30.00 - $150.00 per hour
D. GUARDIANSHIP/CONSERVATORSHIP OF THE PERSON AND/OR ESTATE
(Guardian/Conservator Fees are subject to court approval)
Tiered Rate
· Professional Fiduciary hourly rate: $195.00 per hour
· Support Staff hourly rate range: $30.00 - $150.00 per hour
E. OTHER CHARGES AND COSTS OF ADMINISTRATION. Other charges and costs of administration may include but are not limited to the following: Superior Court Filing Fees, Court reporter fees, e-file charges, Attorney fees and costs, Litigation associated fees and costs, Fiduciary accounting preparation, Tax preparation, Federal and State tax payable, Postage & Delivery, storage, administrative support services such as cleaning, trash and debris removal, maintenance and repair of real property, etc.
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All fees are negotiable. Also, considering the increasing cost of conducting business in California