Reasonable compensation for an attorney-in-fact largely depends on whether the agent is a professional fiduciary or a non-professional.
- Professional agents: Professionals, such as accountants or attorneys, often charge their standard hourly rates or between 1% and 3% of the assets managed. Some may also offer flat monthly fees.
- Non-professional agents: Family members or friends typically charge hourly rates that depend on their experience, although flat monthly rates may also be used.
If you believe an agent is taking excessive compensation, you may petition the court for review. The court can evaluate whether the fees are reasonable and adjust them if necessary.
The terms of the POA document, however, take priority. If the document specifies agent compensation — or prohibits it entirely — those terms generally must be followed.
