Montana Code 72-38-708. Compensation of trustee
72-38-708. Compensation of trustee. (1) 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 Montana Code 72-38-708
- Terms of a trust: means :
(a)except as otherwise provided in subsection (21)(b), the manifestation of the settlor's intent regarding a trust's provisions as:
(i)expressed in the trust instrument; or
(ii)established by other evidence that would be admissible in a judicial proceeding; or
(b)the trust's provisions as established, determined, or amended by:
(i)a trustee or trust director in accordance with applicable law;
(ii)court order; or
(iii)a nonjudicial settlement agreement under 72-38-111. See Montana Code 72-38-103
- Trustee: A person or institution holding and administering property in trust.
- Trustee: includes an original, additional, and successor trustee and a cotrustee. See Montana Code 72-38-103
(2)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:
(a)the duties of the trustee are substantially different from those contemplated when the trust was created; or
(b)the compensation specified by the terms of the trust would be unreasonably low or high.