This is what I do for a "living" I administer trusts and prepare tax returns for these trusts. Without getting too technical, yes, you can use an excel spreadsheet to keep track of trust assets. I have also used the FATE accounting system and Quicken to keep track of basis and asset information for more "complicated" trusts.
As for trustee fees, some trustees take a % of the value of the trust - others take a flat fee for the year and there are those that do not charge a fee.
Attorney fees and accountant fees on the other hand ...
