Minnesota Statutes 501C.0708 – Compensation of Trustee
Current as of: 2023 | Check for updates
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(a) 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.
Terms Used In Minnesota Statutes 501C.0708
- Trustee: A person or institution holding and administering property in trust.
(b) If the terms of a trust specify the trustee’s compensation, the trustee is entitled to be compensated as specified, but the court may allow more or less compensation if:
(1) the duties of the trustee are substantially different from those contemplated when the trust was created; or
(2) the compensation specified by the terms of the trust would be unreasonably low or high.