LOCAL RULE 74.1 TRUSTEE'S COMPENSATION
 
  1. Corporate Trustees.

    1. Except where the instrument creating the trust makes provisions for compensation, a testamentary trustee may charge fees on the same basis as it charges for living trusts.
    2. On each accounting where fees have been taken, an affidavit will be required asserting that the fees charged and included in the accounting represent those charges for similar services in living trusts.
    3. A separate schedule of the computations of the trustee's compensation shall be set forth in the trustee's account as a condition of its approval.
    4. Fee schedules are to be furnished to the Court on the first day of January of each year, and whenever a change in fees is made within any calendar year.

  2. Individual Trustees.

    1. Except where the instrument creating the trust makes provisions for compensation, the trustee may charge fees on the same basis as is currently being charged by the banking institution with which the trust is doing business.
    2. On each accounting where fees have been taken, an affidavit will be required setting forth that the fees charged are based on the schedules of the "name" bank.
    3. A separate schedule of the computations of the trustee's compensation shall be set forth in the trustee's account as a condition of its approval.

  3. The Court reserves the right to determine the reasonableness of trustee's compensation in all cases.

[Former Rule 43.1 amended and renumbered as Rule 74.1, effective June 10, 1998.]

 

 

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