Tips and general information from David C. Streicher, an inactive Portland, Oregon attorney (licensed in Oregon and Washington, with 30 years of experience) specializing in estate planning, small business and tax planning who welcomes your comments or questions at firstname.lastname@example.org. NOTE: DAVID STREICHER'S LICENSE IS "INACTIVE" AND HE CANNOT PRACTICE LAW. ALL POSTS AND RESPONSES ARE MERELY GENERAL INFORMATION AND NOT LEGAL ADVICE.
Most trust agreements state that the trustee is entitled to a “reasonable fee” — without further explanation. The Oregon Uniform Trust Code [ORS 130.635(1)] is no better: “If the terms of a trust do not specify the trustee’s compensation, a trustee is entitled to compensation that is reasonable under the circumstances.”
Everyone should have a living trust. Avoid probate at all costs. Avoid horrible death tax bills. Avoid exorbitant executor fees and legal fees. The list goes on and on. While there is a grain of truth in these arguments, you should take a closer look before expending resources on a living trust. Here’s why. Continue reading →