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Searching 2023-2024 Session

The Vermont Statutes Online

The Vermont Statutes Online does not include the actions of the 2024 session of the General Assembly. We expect them to be updated by November 1st.

NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.

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.)