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.

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Terms Used In Virginia Code 64.2-761

  • Court: means the court of the Commonwealth having jurisdiction in matters related to trusts. See Virginia Code 64.2-701
  • Terms of a trust: means :

    1. See Virginia Code 64.2-701

  • Trustee: A person or institution holding and administering property in trust.
  • Trustee: includes an original, additional, and successor trustee and a cotrustee. See Virginia Code 64.2-701

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.

2005, c. 935, § 55-547.08; 2012, c. 614.

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