is trustee fee fair?

[treefrog]

Jurisdiction

New Jersey

Hello,
the trustee is preparing to dissolve a 100 (or so) year old trust and distribute its assets, predicated on the death of the last beneficiary of the income of the trust ("measuring person").
The trustee seems to think it is entitled to a fee described as "one year's market value termination fee". I don't know any more than the above description. Does this seem reasonable? The trust has assets of just over $1 million.

Treefrog

 

[zddoodah]

The trustee seems to think it is entitled to a fee described as "one year's market value termination fee". I don't know any more than the above description. Does this seem reasonable?

Considering you apparently don't know what the quoted language means, how are we supposed to know what it means -- much less assess its reasonableness?

You didn't say what your relationship is to the trust or the trustee. If you're concerned about the reasonableness (or lack thereof) of what the trustee is seeking as a fee, I suggest you consult with a local attorney. Otherwise, you're going to need to provide some factual information so that we can try and assess the situation.

 

[adjusterjack]

Does this seem reasonable?

Reasonable is in the eye of the beholder.

Trustee fees are legal in NJ.

Google NJ trustee fees and study up on the whether there are any limitations.

 

[army judge]

Does this seem reasonable?

Treefrog

Yeah, sure, anything is reasonable to me.

I'm a reasonable kind of stranger dude.

 

[adjusterjack]

And fair is where you go on rides and eat cotton candy.