Category Archives: Trustees

Income Taxation of New York Trusts

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Executor and Trustee Commissions Under NY EPTL

I.   Executor Commissions.   Executors and Trustees are entitled to compensation for serving in their fiduciary capacity. The will or trust may provide a fee schedule or may provide for a waiver of fiduciary fees. If the will is silent or … Continue reading

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Defining the Scope of Trustee Powers

A.     Introduction Early predecessors of modern trusts appeared in connection with land conveyances in England. Prior to the Statute of Wills, enacted by Parliament in 1540, it was impossible for a landowner to devise title in land to heirs. Moreover, … Continue reading

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