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Vt. Stat. Ann. tit. 14A, § 708

Compensation of trustee

Redline — July 1, 2021 → current.View current text →
Current — June 1, 2022
As of July 1, 2021
(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.
(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 Probate Division of the Superior Court may allow more or less compensation if: the duties of the trustee are substantially different from those contemplated when the trust was created; or
(2) 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: the duties of the trustee are substantially different from those contemplated when the trust was created; or
(3) the compensation specified by the terms of the trust would be unreasonably low or high.
(3) the compensation specified by the terms of the trust would be unreasonably low or high.
(4) Factors for the Probate Division of the Superior Court to consider in deciding upon a trustee's compensation shall include: (c) (1) Factors for the Probate Division of the Superior Court to consider in deciding upon a trustee's compensation shall include: the size of the trust;
(4) Factors for the Probate Division of the Superior Court to consider in deciding upon a trustee’s compensation shall include: (c) (1) Factors for the Probate Division of the Superior Court to consider in deciding upon a trustee’s compensation shall include: the size of the trust;
(5) the nature and number of the assets;
(5) the nature and number of the assets;
(6) the results obtained;
(6) the results obtained;
(7) the time and responsibility required;
(7) the time and responsibility required;
(8) the expertise required;
(8) the expertise required;
(9) any management or sale of real property or closely held business interests;
(9) any management or sale of real property or closely held business interests;
(10) any involvement in litigation to protect the trust property;
(10) any involvement in litigation to protect the trust property;
(11) the fee customarily charged in the locality for similar services;
(11) the fee customarily charged in the locality for similar services;
(12) the experience, reputation, and ability of the person performing the services;
(12) the experience, reputation, and ability of the person performing the services;
(13) the effect that the particular employment may have on the ability of the person employed to engage in other employment;
(13) the effect that the particular employment may have on the ability of the person employed to engage in other employment;
(14) the time limitations imposed by the trustee or by the circumstances; and
(14) the time limitations imposed by the trustee or by the circumstances; and
(15) other relevant factors.
(15) other relevant factors.
(16) 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.
(16) The order of the factors in this subsection does not imply their relative importance.

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