A 1954 letter from the corporate trustee established an agreement for trustee compensation of 5% of income, and the trustee did not produce evidence of extraordinary services to merit additional compensation or that the resulting fee was unreasonable. However, neither … Continue reading
Tag Archives: Trustee commissions
When trust document specifically excluded son from discretionary distribution decisions for son’s trust, son may be appointed to serve as a trustee but may not be the sole trustee. It was proper for the corporate trustee who had been appointed … Continue reading
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 … Continue reading
Husband of income beneficiary received trust income for 3 years after the death of the income beneficiary, individual trustee’s law firm received trustee commissions for 8 years after the death of the individual trustee, and corporate trustee received trustee commissions … Continue reading