1. If the terms of the trust do not specify the trustee's compensation, a trustee or cotrustee is entitled to compensation that is reasonable under the circumstances.
2. If the terms of the trust specify the trustee's compensation, the trustee is entitled to be compensated as so provided, except that upon proper showing, the court may allow more or less compensation in the following instances:
a. If the duties of the trustee are substantially different from those contemplated when the trust was created.
b. If the compensation specified by the terms of the trust would be inequitable, or unreasonably low or high.
c. In extraordinary circumstances calling for equitable relief.
99 Acts, ch 125, §44, 109
Section effective July 1, 2000; 99 Acts, ch 125, §109
Previous Section 633.4108
Next Section 633.4110
© 2002 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Thu Jan 24 10:51:05 CST 2002
URL: /DOCS/IACODE/2001SUPPLEMENT/633/4109.html
jhf