Estate Settlement FAQs
Q) What type of duties do I have as a trustee of a trust or the personal representative (executor) of an estate?
A) Generally speaking, you have a fiduciary duty. That is to say, you put the trust or the estate before yourself.
Q) Can I charge for my services as trustee or personal representative?
A) Yes. You can charge "reasonable" fees for your services and you are entitled to reimbursement for your expenses unless the structure you are acting for has described a different compensation scheme.
Q) Am I liable for the debts of the estate I am settling?
A) No. While acting as a fiduciary of the estate, you are not liable for its debts.