Right to compensation
Sec. 16. (a) Unless the terms of the trust provide otherwise, and
except as provided in section 17 of this chapter, the trustee is entitled
to reasonable compensation from the trust estate for acting as trustee.
(b) If the terms of the trust specify the trustee's compensation, the
trustee is entitled to be compensated as specified, but the court may
allow more or less compensation if:
(1) the duties of the trustee are substantially different from
those contemplated when the trust was created; or
(2) the compensation specified in the terms of the trust would
be unreasonably low or high.
(c) A trustee is entitled to be reimbursed out of the trust property,
with interest as appropriate, for:
(1) expenses that were properly incurred in the administration
of the trust; and
(2) expenses that were not properly incurred in the
administration of the trust, to the extent necessary to prevent
unjust enrichment of the trust.
An advance by the trustee of money for the protection of the trust
gives rise to a lien against trust property to secure reimbursement
with reasonable interest.
(Formerly: Acts 1971, P.L.416, SEC.6.) As amended by
P.L.238-2005, SEC.42.
Last modified: May 27, 2006