Compensation and Indemnification of Trustees

Cal. PROB § 15687

California Statutes

(

a) Notwithstanding any provision of a trust to the contrary, a trustee who is an attorney may receive only (1) the trustee’s compensation provided in the trust or otherwise provided in this

article or (2) compensation for legal services performed for the trustee, unless the trustee obtains approval for the right to dual compensation as provided in subdivision (d). (

b) No parent, child, sibling, or spouse of a person who is a trustee, and no law partnership or corporation whose partner, shareholder, or employee is serving as a trustee shall receive any compensation for legal services performed for the trustee unless the trustee waives trustee compensation or unless the trustee obtains approval for the right to dual compensation as provided in subdivision (d). (

c) This

section shall not apply if the trustee is related by blood or marriage to, or is a cohabitant with, the settlor. (

d) After full disclosure of the nature of the compensation and relationship of the trustee to all persons receiving compensation under this section, the trustee may obtain approval for dual compensation by either of the following:

(1) An order pursuant to paragraph (21) of subdivision (

b) of

Section 17200.

(2) Giving days’ advance written notice to the persons entitled to notice under

Section 17203. Within that 30-day period, any person entitled to notice may object to the proposed action by written notice to the trustee or by filing a petition pursuant to paragraph (21) of subdivision (

b) of

Section 17200. If the trustee receives this objection during that 30-day period and if the trustee wishes dual compensation, the trustee shall file a petition for approval pursuant to paragraph (21) of subdivision (

b) of

Section 17200. (

e) Any waiver of the requirements of this

section is against public policy and shall be void. (

f) This

section applies to services rendered on or after January 1, 1994.

Document details

CollectionCalifornia Statutes
CitationCal. PROB § 15687
Date1996-01-01
Typestatute
Languageen
SourceCA_STAT
IdentifierPROB15687.199573010

Compensation and Indemnification of Trustees

Cal. PROB § 15687

California Statutes

Compensation and Indemnification of Trustees

Cal. PROB § 15687

California Statutes

(

a) Notwithstanding any provision of a trust to the contrary, a trustee who is an attorney may receive only (1) the trustee’s compensation provided in the trust or otherwise provided in this

article or (2) compensation for legal services performed for the trustee, unless the trustee obtains approval for the right to dual compensation as provided in subdivision (d). (

b) No parent, child, sibling, or spouse of a person who is a trustee, and no law partnership or corporation whose partner, shareholder, or employee is serving as a trustee shall receive any compensation for legal services performed for the trustee unless the trustee waives trustee compensation or unless the trustee obtains approval for the right to dual compensation as provided in subdivision (d). (

c) This

section shall not apply if the trustee is related by blood or marriage to, or is a cohabitant with, the settlor. (

d) After full disclosure of the nature of the compensation and relationship of the trustee to all persons receiving compensation under this section, the trustee may obtain approval for dual compensation by either of the following:

(1) An order pursuant to paragraph (21) of subdivision (

b) of

Section 17200.

(2) Giving days’ advance written notice to the persons entitled to notice under

Section 17203. Within that 30-day period, any person entitled to notice may object to the proposed action by written notice to the trustee or by filing a petition pursuant to paragraph (21) of subdivision (

b) of

Section 17200. If the trustee receives this objection during that 30-day period and if the trustee wishes dual compensation, the trustee shall file a petition for approval pursuant to paragraph (21) of subdivision (

b) of

Section 17200. (

e) Any waiver of the requirements of this

section is against public policy and shall be void. (

f) This

section applies to services rendered on or after January 1, 1994.

Document details

CollectionCalifornia Statutes
CitationCal. PROB § 15687
Date1996-01-01
Typestatute
Languageen
SourceCA_STAT
IdentifierPROB15687.199573010