Joel Schoenmeyer offers some exceptionally practical and useful advice for executors, administrators or trustees concerning compensation. He notes that many family members initially volunteer to serve as fiduciaries but wind up frustrated: “I wasn’t planning to pay myself, but my parent/siblings have been so annoying and I’ve put in so much work that I want to get paid!”

So what should you charge? That depends. You’ll want to read his post on the Death and Taxes blog to get the details. But I particularly like this piece of wisdom: Read the rest of this entry »

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Our investment advisor has been pressing me for several months not only to do legacy planning, but to hire a professional advisor to help run us through a structured legacy planning process. Yesterday, during our regularly scheduled monthly performance review meeting, he “surprised” me a bit by inviting the legacy planner in to share just a bit about his approach.

Yipes! He wouldn’t say exactly what his fees are, but he gave me an idea. It’s a lot of money. Several thousand dollars to start. And then, I get the idea, more later. Read the rest of this entry »