Check with your local state. Below is example for Virginia: COMPENSATION FOR CONSERVATORS Virginia Code § 64.2-1208 allows a "reasonable compensation" to a Conservator for services rendered in the administration of a conservatorship. There is no specific definition of "reasonable compensation," but absent unusual circumstances, the Commissioner would allow a fee based on the Uniform Fee Schedule Guideline, which provides the following schedule: Income - 5% of all non-investment receipts (Social Security, retirement payments, etc.) realized during each accounting period. No compensation is allowed on receipts such as interest, dividends, capital gain distributions, or on capital gains on sales. Principal - A fee based upon the market value of the assets brought forward from the Inventory or prior account in accordance with the following schedule: First $500,000 1% (.01) Next $500,000 ¾ of 1% (.0075) Over $1,000,000 (up to $9,999,999.99) ½ of 1% (.005) $10,000,000 or more -by agreement with the Commissioner (prior consultation is required).
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COMPENSATION FOR CONSERVATORS
Virginia Code § 64.2-1208 allows a "reasonable compensation" to a Conservator for services rendered in the administration of a conservatorship. There is no specific definition of "reasonable compensation," but absent unusual circumstances, the Commissioner would allow a fee based on the Uniform Fee Schedule Guideline, which provides the following schedule:
Income - 5% of all non-investment receipts (Social Security, retirement payments, etc.) realized during each accounting period. No compensation is allowed on receipts such as interest, dividends, capital gain distributions, or on capital gains on sales. Principal - A fee based upon the market value of the assets brought forward from the Inventory or prior account in accordance with the following schedule:
First $500,000 1% (.01) Next $500,000 ¾ of 1% (.0075) Over $1,000,000 (up to $9,999,999.99) ½ of 1% (.005) $10,000,000 or more -by agreement with the Commissioner (prior consultation is required).
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