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Code · Illinois · Chapter 760 — TRUSTS AND FIDUCIARIES · Act 3

Sec. 708. Compensation of trustee.

88 words·~1 min read·/il/chapter-760/act-3/708

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Sec. 708. Compensation of trustee.
(a)If the trust instrument does not specify the trustee's compensation, a trustee is entitled to compensation that is reasonable under the circumstances.
(b)If the trust instrument specifies 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 trust instrument would be unreasonably low or
high.
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