What is reasonable compensation for successor trustee in a living trust NJ?

In New Jersey, reasonable compensation for a successor trustee of a living trust typically ranges from 1% to 3% of the trust's total assets, depending on the complexity of the trust and the duties performed. If the trustee is a professional, such as an attorney or financial institution, their fees may also reflect standard hourly rates or specific fee schedules. It's essential for the trustee to document their hours and services to justify the compensation, and trust documents may specify the fee structure. Ultimately, the reasonableness of the compensation can be subject to review by beneficiaries or the court if disputes arise.