Trustee compensation; how do I figure out a modest yet fair amount?
It wasn't until very recent I've been considering taking compensation as my Mother's Trustee. Mom has dementia and I've been Trustee for several years. The majority of her needs are taken care of thru AL; however as Trustee, and as outlined in her trust, I can provide myself compensation for my time, such as selling her house, taking her to appointments and so forth. I work full time and have a family and at one point was in school. Don't get me wrong, I don't mind doing this but my out of state sibling hasn't done much (and he recognizes that) and the previous Trustee has health issues. My brother was going to help pay for AL if Mom ran out of money - that was his way of helping- but now he is going back on that offer and wants to place her in a state nursing home if she runs out of funds. Might sound selfish and please don't judge but given his change of heart I feel differently. I might add I always had a difficult and complicated relationship with my Mom- which since I've been overseeing everything has changed for the better; that in itself is a gift no doubt. She actually asked why I wasn't taking compensation. If I do take compensation how do I figure out a modest yet fair amount?