Skip to navigation Skip to content Skip to subnav
Searching 2021-2022 Session

The Vermont Statutes Online

 

Title 14A : Trusts

Chapter 007 : OFFICE OF TRUSTEE

(Cite as: 14A V.S.A. § 708)
  • § 708. Compensation of trustee

    (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.

    (b) If the terms of a trust specify the trustee's compensation, the trustee is entitled to be compensated as specified, but the Probate Division of the Superior 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.

    (c)(1) Factors for the Probate Division of the Superior Court to consider in deciding upon a trustee's compensation shall include:

    (A) the size of the trust;

    (B) the nature and number of the assets;

    (C) the results obtained;

    (D) the time and responsibility required;

    (E) the expertise required;

    (F) any management or sale of real property or closely held business interests;

    (G) any involvement in litigation to protect the trust property;

    (H) the fee customarily charged in the locality for similar services;

    (I) the experience, reputation, and ability of the person performing the services;

    (J) the effect that the particular employment may have on the ability of the person employed to engage in other employment;

    (K) the time limitations imposed by the trustee or by the circumstances; and

    (L) other relevant factors.

    (2) The order of the factors in this subsection does not imply their relative importance. (Added 2009, No. 20, § 1; amended 2009, No. 154 (Adj. Sess.), § 236, eff. February 1, 2011.)