Code of Virginia - Title 55 Property And Conveyances - Section 55-547.08 Compensation of trustee.

§ 55-547.08. Compensation of trustee.

A. If the terms of a trust do not specify the trustee's compensation, a trustee is entitled to compensation that is reasonable under the circumstances.

B. If the terms of a 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 by the terms of the trust would be unreasonably low or high.

(2005, c. 935.)

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Last modified: April 3, 2009