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Current as of January 01, 2025 | Updated by Findlaw Staff
(1) A custodian is entitled to reimbursement from custodial property for reasonable expenses incurred in the performance of the custodian's duties.
(2) Except for one who is a transferor under RCW 11.114.040, a custodian has a noncumulative election during each calendar year to charge reasonable compensation for services performed during that year.
(3) Except as provided in RCW 11.114.180(6), a custodian need not give a bond.
(4) Notwithstanding RCW 11.114.190, a custodian not compensated for services is not liable for losses to the custodial property unless they result from bad faith, intentional wrongdoing, or gross negligence, or from failure to maintain the standard of prudence in investing the custodial property provided in this chapter.
Cite this article: FindLaw.com - Washington Revised Code Title 11. Probate and Trust Law § 11.114.150. Custodian's expenses, compensation, and bond - last updated January 01, 2025 | https://codes.findlaw.com/wa/title-11-probate-and-trust-law/wa-rev-code-11-114-150/
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 before relying on it for your legal needs.
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