What is a fair rate if (any to) charge for managing a relative's estate?

  1. Taylorwise profile image79
    Taylorwiseposted 7 years ago

    What is a fair rate if (any to) charge for managing a relative's estate?

    I have spent countless hours talking to and mailing insurance companies, foreign banks, US banks, foreign consulates, etc etc trying to the get money that is owed to my nieces. They inherited it from another family member (a large amount of money and assets) and I have been dealing with this for two years. I have never charged anything for my time, because they're my family. Would it be wrong to charge them? And if so, how much? It has and continues to take up my time--time that I need to be able to make money for myself.
    thanks.

  2. profile image58
    rieomposted 7 years ago

    We have had two family members die recently and both were handled different by the managing relatitive.  The first was for and uncle who had no wife or children.  He assigned a family member, who lived near him, to be the person in charge of his estate.  He also left her $10,000 to do this for him.

    The second one was a sister who handle my parents estate.  She too has spent countless hours handling their estate.  We have urged her to take payment for her time but she won't.

    In my opinion, the person who handles all this deserves to get paid for it.

  3. Taylorwise profile image79
    Taylorwiseposted 7 years ago

    thanks for this. Its such a moral dilemma for me.....do I take money from my nieces by paying myself just because I'm not indepedently wealthy? Add to the situiation  their mother is a witch and her husband is broke, and  it makes it more of a problem. And neithe of them know anyting about how a trust "works"......

 
working