Corporate Trustee Commissions Approved

Fees of corporate trustee based on both a percentage of the value of closely-held stock and hourly charges for time spent approved when trust document allowed fees “in accordance with its schedule in effect” when the services are performed, the fee schedule was previously approved by the court, the fee schedule was the result of competition with other corporate trustees, expert testimony was presented that the compensation was reasonable in light of the risks to which the corporate trustee was exposed, the fee schedule was approved by individual co-trustees, the fees were at the lower end of industry standards, and the objectant failed to produce any evidence to rebut the presumption of reasonableness.  Trust of Henry Orth Hirt, 6 Fid.Rep.3d 38 (O.C. Erie Co. 2015).

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