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Compensation · 6 мин чтения
The standard
If the terms of a trust do not specify the trustee's compensation, a trustee is entitled to compensation that is reasonable under the circumstances (Utah Code § 75B-2-708). Where the terms specify it, the terms control. What is reasonable depends on the work the administration asked for, the trustee's skills, the time spent and the results; the record of time and tasks is what shows it (§ 75B-2-808).
Notice and the report
The trustee notifies the qualified beneficiaries in advance of any change in the method or rate of the trustee's compensation; the statute states no number of days (Utah Code § 75B-2-811(2)(d)). Each trustee's report, sent at least annually and at termination to the qualified beneficiaries who request it, includes the amount of the trustee's compensation or a fee schedule or other writing showing how the compensation was determined (§ 75B-2-811(3)(a)). A report that adequately discloses a potential claim about compensation and states the time allowed starts the six-month period of § 75B-2-1005.
Reimbursement
A trustee is reimbursed from 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 of money for the trust's protection gives rise to a lien against the trust property (Utah Code § 75B-2-709). Fees paid to attorneys, accountants and investment advisers the trustee employs are the trust's expenses, not the trustee's compensation (§ 75B-2-802).
When compensation is questioned
The district court's jurisdiction over a trust's internal affairs includes reviewing a trustee's fees and settling accounts (Utah Code § 75B-2-201); among the remedies for a breach of trust, the court may reduce or deny compensation to the trustee (§ 75B-2-1001). Interested persons may instead agree on a trustee's compensation in a nonjudicial settlement agreement (§ 75B-2-110). A trustee who paid themselves without the terms' authority faces the duty of loyalty's presumptions (§ 75B-2-802).
Законы, дословно
Remedies for breach of trust
Utah Code § 75B-2-1001 ↗Понятное простое объяснение; дословный текст статута ещё не заверен в нашей библиотеке. Смотрите официальный статут по ссылке выше.
Compensation of trustee
Utah Code § 75B-2-708 ↗Понятное простое объяснение; дословный текст статута ещё не заверен в нашей библиотеке. Смотрите официальный статут по ссылке выше.
Reimbursement of expenses
Utah Code § 75B-2-709 ↗Понятное простое объяснение; дословный текст статута ещё не заверен в нашей библиотеке. Смотрите официальный статут по ссылке выше.
Duty to inform and report
Utah Code § 75B-2-811 ↗Понятное простое объяснение; дословный текст статута ещё не заверен в нашей библиотеке. Смотрите официальный статут по ссылке выше.
Частые вопросы
Is there a Utah statutory trustee fee?
No. Where the terms do not specify it, a Utah trustee is entitled to compensation that is reasonable under the circumstances (Utah Code § 75B-2-708).
Does a Utah trustee have to announce a fee change?
The trustee notifies the qualified beneficiaries in advance of any change in the method or rate of compensation, with no number of days stated (Utah Code § 75B-2-811(2)(d)).
Can a court reduce a Utah trustee's compensation?
Yes. Among the remedies for a breach of trust, the court may reduce or deny compensation to the trustee (Utah Code § 75B-2-1001).
По теме
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