[Eddy2]

What is a reasonable fee for being a POA/Trustee?

I live in an area that has a midian income @ 57,000. I am a Licensed Financial Advisor with 19 years exp. And a wide range of knowledge in managing books.

Thanks.

Furture POA

[Wondergirl]

I had POA for my uncle and received nothing for my services of over ten years. He had money, but it went to two nursing homes. When he went on public aid, I had to justify every expenditure for the previous three years. I decided taking money for POA services would be a form of theft in his case.

Each case should be decided on its own merit.

[ebaines]

It depends. If you are acting as PoA for a family member I would agree with WG and say the "right" thing to do is charge nothing, other than perhaps reimbursement for any out-of-pocket expenses you may incur. If you are performing this service as part of your business then you are entitled charge "reasonable" fees, which should be spelled out in a contract with the principal. To determine what is "reasonable" consider the time that you will be putting in each month and the specific duties you will perform and skills that you will use - for example will you be preparing income tax returns? Managing investments or investiment properties? Or simply payng bills with his checking account?