- Corporate Trustees.
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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.
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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.
-
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.
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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.
- Individual Trustees.
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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.
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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.
-
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.
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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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