1. As used in this section, "trustee's fee" includes a trustee's periodic base fee, rate of percentage compensation, minimum fee, hourly rate, and transaction charge, but does not include fees for extraordinary services.
2. A trustee shall not charge an increased trustee's fee for administration of a trust unless the trustee first gives at least thirty days' written notice of the increased fee to all of the following beneficiaries:
a. Each beneficiary who is entitled to an accounting under section 633.4213, subsection 6.
b. Each beneficiary who was given the last preceding accounting.
c. Each beneficiary who has made a written request to the trustee for notice of an increased trustee's fee, and has given an address for receiving notice by mail.
3. If a beneficiary files a petition for review of an increased trustee's fee or for removal of a trustee and serves a copy of the petition on the trustee within the thirty-day period, the increased fee does not take effect until otherwise ordered by the court or the petition is dismissed.
99 Acts, ch 125, §46, 109; 2000 Acts, ch 1150, §24
Section effective July 1, 2000; 99 Acts, ch 125, §109
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