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The expenses and compensation of a trustee of a testamentary trust must initially be governed by the terms of the will which created the testamentary trust or as otherwise ordered by the court at the time the testamentary trust is established. Thereafter, subject to any contrary terms of the testamentary trust or an order of the court, the court shall allow the trustee his or her proper expenses and such compensation for services as are just and reasonable. Where there are several trustees, compensation must be apportioned among the trustees according to the respective services rendered, and such compensation may be a fixed yearly compensation for each trustee, a set amount for the term of service, an hourly rate for services rendered or pursuant to a standard schedule of fees. The provisions of this section must not be interpreted to abridge the authority of a court having jurisdiction over a testamentary trust pursuant to NRS 153.020 or 164.010 to review and settle the expenses and compensation of the trustee of a testamentary trust upon the petition of any interested person.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 12. Wills and Estates of Deceased Persons § 153.070. Expenses and compensation of trustees - last updated January 01, 2020 | https://codes.findlaw.com/nv/title-12-wills-and-estates-of-deceased-persons/nv-rev-st-153-070.html
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