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North Carolina General Statutes Chapter 32. Fiduciaries § 32-54. Compensation of trustees

Current as of January 01, 2020 | Updated by FindLaw Staff

(a) If the terms of the trust do not specify the trustee's compensation, the trustee is entitled to receive from the assets of the trust compensation that is reasonable under the circumstances.

(b) All of the following factors shall be considered in determining reasonableness of compensation:  

(1) The degree of difficulty and novelty of the tasks required of the trustee.

(2) The responsibilities and risks involved.

(3) The amount and character of the trust assets.

(4) The skill, experience, expertise, and facilities of the trustee.

(5) The quality of the trustee's performance.

(6) Comparable charges for similar services.

(7) Time devoted to administering the trust.

(8) Time constraints imposed upon the trustee in administering the trust.

(9) Nature and costs of services delegated to others by the trustee.

(10) Where more than one trustee is serving, the reasonableness of the total fees paid to all trustees.

(11) Other factors which the trustee or the clerk of superior court deems to be relevant.

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Cite this article: FindLaw.com - North Carolina General Statutes Chapter 32. Fiduciaries § 32-54. Compensation of trustees - last updated January 01, 2020 | https://codes.findlaw.com/nc/chapter-32-fiduciaries/nc-gen-st-sect-32-54.html

Read this complete North Carolina General Statutes Chapter 32. Fiduciaries § 32-54. Compensation of trustees on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

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