Tèks konplè gid sa a an angle; rezime ki anwo a nan lang ou. Rezime lwa yo ak vèsyon angle a rete sous referans lan.
Money · 5 min lekti
Reasonable compensation, or as the instrument specifies
R.C. 5807.08(A) provides that where the terms of a trust do not specify the trustee's compensation, the trustee is entitled to compensation that is reasonable under the circumstances. Where the terms specify it, the trustee is compensated as specified, but the court may allow more or less if the trustee's duties are substantially different from those contemplated when the trust was created or the specified compensation would be unreasonably low or high (R.C. 5807.08(B)) — a power the instrument cannot take away (R.C. 5801.04(B)(7)). An agreement between a trustee and a beneficiary on the trustee's compensation, and the payment of reasonable compensation, are not loyalty breaches unless the beneficiaries show them unfair (R.C. 5808.02(G)(2)).
Notice of a change, and the report
The trustee notifies the current beneficiaries in advance of any change in the method or rate of the trustee's compensation (R.C. 5808.13(B)(4)), and the trustee's report states the source and amount of the compensation (R.C. 5808.13(C)). Among the remedies for a breach of trust, the court may reduce or deny compensation (R.C. 5810.01(B)(8)).
Expenses, and the court-supervised trustee
A trustee is reimbursed out of the trust property, with interest as appropriate, for expenses properly incurred in the administration and, to the extent necessary to prevent the trust's unjust enrichment, for expenses not properly incurred; an advance for the protection of the trust creates a lien for reimbursement (R.C. 5807.09). A testamentary trustee under the probate court's supervision is compensated under the county's local rule, with additional compensation for extraordinary services on an itemized application, and no compensation while delinquent in filing an account (Civ.R. 73.24); a fiduciary removed for a late account receives no allowance for services unless the court finds the delay necessary and reasonable (R.C. 2109.24).
Lwa yo, mo pou mo
Compensation of trustee
R.C. 5807.08 ↗Eksplikasyon klè e senp; tèks egzak lwa a poko ateste nan bibliyotèk nou an. Gade lwa ofisyèl la nan lyen ki anwo a.
Reimbursement of trustee for administrative expenses
R.C. 5807.09 ↗Eksplikasyon klè e senp; tèks egzak lwa a poko ateste nan bibliyotèk nou an. Gade lwa ofisyèl la nan lyen ki anwo a.
Keeping beneficiaries informed - requests - required reports
R.C. 5808.13 ↗Eksplikasyon klè e senp; tèks egzak lwa a poko ateste nan bibliyotèk nou an. Gade lwa ofisyèl la nan lyen ki anwo a.
Breach of trust defined - judicial remedies
R.C. 5810.01 ↗Eksplikasyon klè e senp; tèks egzak lwa a poko ateste nan bibliyotèk nou an. Gade lwa ofisyèl la nan lyen ki anwo a.
Kesyon moun poze souvan
Does Ohio have a statutory trustee fee schedule?
No. Where the instrument is silent, the trustee is entitled to compensation reasonable under the circumstances (R.C. 5807.08(A)); a testamentary trustee under the probate court is paid under the county's local rule (Civ.R. 73.24).
Can a beneficiary challenge an Ohio trustee's fee?
The court may allow more or less than the instrument specifies where the duties are substantially different from those contemplated or the fee is unreasonably low or high (R.C. 5807.08(B)), and may reduce or deny compensation as a remedy for a breach of trust (R.C. 5810.01(B)(8)).
Must an Ohio trustee tell the beneficiaries about a fee change?
Yes. The trustee notifies the current beneficiaries in advance of any change in the method or rate of the trustee's compensation (R.C. 5808.13(B)(4)).
Lekti ki gen rapò
Sant Aprantisaj la se enfòmasyon jeneral sou lwa Ohio — se pa konsèy legal, e li pa ranplase konsèy yon avoka Ohio ki gen lisans sou reyalite pa ou. TrusteeClear se yon lojisyèl, pa yon kabinè avoka.