2025 Session
Last amended: 2015 session
§ 501C.0708 — Compensation of Trustee
Plain-Language Summary
Governs how much a trustee gets paid for managing a trust.
501C.0708 COMPENSATION OF TRUSTEE.
(a) If the terms of a trust do not specify the trustee’s compensation, a trustee is entitled to compensation that is reasonable under the circumstances.
(b) If the terms of a trust specify the trustee’s compensation, the trustee is entitled to be compensated as specified, but the court may allow more or less compensation if:
(1) the duties of the trustee are substantially different from those contemplated when the trust was created; or
(2) the compensation specified by the terms of the trust would be unreasonably low or high.
History:
History: History:
2015 c 5 art 7 s 8
Practical Notes
A trustee can be paid a reasonable fee, either as set in the trust or by the court.