§ 8005 — Commissions of trustees; advance payment of fees of an attorney-trustee

New York § 8005

• Jurisdiction: New York
• Law CVP: Civil Practice Law & Rules
• Art. 80: Fees

Text

§ 8005. Commissions of trustees; advance payment of fees of an\nattorney-trustee. A trustee of an express trust shall be entitled to\ncommissions and the allowance of his expenses and compensation and, if\nhe be an attorney admitted to practice in this state, to the allowance\nof a sum on account of his compensation for legal services theretofore\nrendered to the trust, in the same manner and amount as that provided by\nsections twenty-one hundred eleven, twenty-three hundred eight and\ntwenty-three hundred eleven of the surrogate's court procedure act for\ntestamentary trustees, if the trust was established on or before August\nthirty-first, nineteen hundred fifty-six, or as that provided by\nsections twenty-one hundred eleven, twenty-three hundred nine and\ntwenty-three hundred eleven of the surrogate's court procedure act for\ntestamentary trustees, if the trust was established after August\nthirty-first, nineteen hundred fifty-six or as that provided for by\nsections twenty-one hundred eleven and twenty-three hundred eleven for\ntestamentary trustees and twenty-three hundred twelve of the surrogate's\ncourt procedure act except that the statements required thereunder to be\nfurnished annually in order to retain certain annual commissions need be\nfurnished during the settlor's lifetime only to beneficiaries currently\nreceiving income. The court shall make such determinations and\nallowances as the named sections require or authorize the surrogate to\nmake, and the term "will" used in those sections shall be construed to\nmean the instrument creating the trust and the phrase "the court from\nwhich his letters were issued" shall be construed to mean the court\nhaving jurisdiction of the trust.\n