Serving as Trustee and wondering what you may charge?
Start the free role checkHow Colorado approaches the number
- Trust terms first. If the instrument specifies compensation, the Trustee is entitled to what it says — though a court may allow more or less if the duties turn out substantially different from those contemplated, or the specified amount is unreasonably low or high.
- If the Trust is silent: compensation reasonable under the circumstances. There is no statutory percentage for Colorado Trustees — courts weigh things like the size of the Trust, the work actually performed, the skill required, and customary charges.
- Professional help is separate: expenses properly incurred are reimbursed from the Trust (C.R.S. §15-5-709), and a fiduciary who is a member of a law firm may charge the reasonable value of the firm's services (C.R.S. §15-10-602(8)). A fee charged under a published fee schedule the governing instrument names is presumed reasonable (C.R.S. §15-10-603(4)); family Trustees commonly charge modestly or waive — choices, not requirements.
- Don't confuse it with the attorney's fee. The Trustee's own compensation is governed by C.R.S. §15-5-708; the attorney the Trustee hires is paid the fee they agree — Colorado sets no presumptive attorney fee for trust administration.
The governing provisions
Compensation of trustee
C.R.S. §15-5-708 ↗Clear, simple explanation; the verbatim statute text is not yet attested in our library. See the official statute via the link above.
Duty of loyalty
C.R.S. §15-5-802 ↗Clear, simple explanation; the verbatim statute text is not yet attested in our library. See the official statute via the link above.
Discretionary powers - tax savings
C.R.S. §15-5-814 ↗Clear, simple explanation; the verbatim statute text is not yet attested in our library. See the official statute via the link above.
Why paying yourself needs care
- Paying yourself is a self-interested act by a fiduciary — the duty of loyalty (C.R.S. §15-5-802) is in the room. Document the basis, the rate, the time, and the work before the money moves.
- If you are also a beneficiary, the line between compensation and distribution matters: C.R.S. §15-5-814 limits self-dealing discretion, and compensation that looks like a disguised distribution invites challenge.
- Beneficiaries will see it: compensation appears in the Trust accounting (C.R.S. §15-5-813(3)). A number that surprises them there is how disputes start.
- TrusteeClear treats paying yourself as a gated action — the record is assembled before the payment, and a firm-supervised matter routes it to the attorney first.
General information about Colorado law, not legal advice.
Frequently asked questions
- How is a Colorado trustee paid?
- As the trust's terms provide; where they are silent, the trustee is entitled to reasonable compensation under the Colorado Probate Code (C.R.S. §15-5-708(1)), weighed by factors such as the time, labor and skill required, the customary charges in the community and the nature and size of the estate (§15-10-603). Colorado has no fee schedule.
- Does a Colorado trustee have to tell the beneficiaries before changing their compensation?
- Yes. The statute has the trustee notify the qualified beneficiaries in advance of any change in the method or rate of the trustee's compensation (C.R.S. §15-5-813(2)(d)), and every annual report shows the source and amount of the trustee's compensation (§15-5-813(3)).
- Can a beneficiary challenge a Colorado trustee's compensation?
- Yes. A court may review the reasonableness of a fiduciary's compensation (C.R.S. §15-10-603), and even where the terms set it the court may allow more or less if it is unreasonably low or high (§15-5-708(2)); after notice of a removal proceeding, compensation is not paid from the estate without a court order (§15-10-602).
General information about Colorado law, not legal advice.