Illinois § 708 Compensation of trustee

Illinois Statutes

§ 708 — Compensation of trustee

Illinois·Topic RIGHTS AND REMEDIES·Ch. 760 TRUSTS AND FIDUCIARIES·Act 760 ILCS 3/ Illinois Trust Code.·Art. Article 7 - Office 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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(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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