Computation Of Attorney Fees Form Page 38
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60Adopted: 2/1/05
Revised: 8/1/14
LOCAL RULE 74.1
TRUSTEE FEES
(A)
Except as provided in the trust instrument, a trustee may take trustee fees without
application or order of the Court, if the fees are less than or equal to the sum of the
following:
(1)
5% of income from intangible investments and deposits and installment receipts,
such as Social Security or Veterans’ Benefits;
(2)
10% of gross rentals from real estate actually managed by the trustee (5% if
proceeds of a net lease);
(3)
.25% of intangible personal property investments and deposits for each year of the
accounting period;
(4)
1% of distribution of personal property corpus at periodic distributions.
(B)
A computation of fees shall be filed with each account in which credit has been taken for
payment of fees. Appendix F to the Local Rules or a similar form shall be used to
compute the allowed fees. Existence of the above schedule does not constitute approval
by the Court of the reasonableness of the fees taken.
(C)
A corporate trustee may take trustee fees in accordance with its published fee schedule,
provided the fee schedule has been filed with the Court. A corporate trustee shall file its
current published fee schedule with the Court on an annual basis. Any amendments to the
schedule must be filed before a fee may be taken in accordance with the amended
schedule. Fee schedules shall be limited to a maximum 1% fee for all trust estates with a
market value of $75,000.00 or less.
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