California § 15687. 15687. (Amended by Stats. 1995, Ch. 730, Sec. 10.)

California Statutes

§ 15687. — 15687. (Amended by Stats. 1995, Ch. 730, Sec. 10.)

California·Code PROB Probate Code - PROB·Div. 9. DIVISION 9. TRUST LAW·Part 3. PART 3. TRUSTEES AND BENEFICIARIES·Ch. 1. CHAPTER 1. Trustees·Art. 5. ARTICLE 5. Compensation and Indemnification of Trustees

(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 app

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(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 30 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.

California § 15687. (15687. (Amended by Stats. 1995, Ch. 730, Sec. 10.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Amended by Stats. 1995, Ch. 730, Sec. 10. Effective January 1, 1996.

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