| Executors and trustees are entitled to compensation. Under the trusts that are created in this program, the trustee's compensation is limited to no more than one percent of asset value per year. This makes the trustee's job easier so they don't have to keep track of every minute that they spend. It also makes it easier for the beneficiaries to understand, that yes, the trustee is entitled to compensation. So the trustee is compensated because this is work. They don't have to take the compensation if they don't need it, but the goal is not to have this role be a financial burden for your trustee. Executors are generally only paid if there is a probate. If they do go through the probate courts, the executor's compensation is set by the courts, it's usually based on a percentage of the size of the assets, and it can be as high as four or five percent of the assets. |