Public-domain · open source
OpenJurist

KRS 386B.7-080

Compensation of trustee

Known as the Uniform Trust Code

The act spans §§ 386B.10-010 to 386B.9-010 (95 sections).

Applied in 1 court decision — leading case Davis v. Davis (2018)

Most recently applied in Davis v. Davis (November 2018)

Effective: July 15, 2014 History: Created 2014 Ky

(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.

(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.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.