633A.4111 - NOTICE OF INCREASED TRUSTEE'S FEE.
633A.4111 NOTICE OF INCREASED TRUSTEE'S FEE. 1. As used in this section, "trustee's fee" includes a trustee's periodic base fee, rate of percentage compensation, minimum fee, hourly rate, and transaction charge, but does not include fees for extraordinary services. 2. A trustee shall not charge an increased trustee's fee for administration of a trust unless the trustee first gives at least thirty days' written notice of the increased fee to all of the following beneficiaries: a. Each qualified beneficiary. b. Each beneficiary who was given the last preceding accounting. c. Each beneficiary who has made a written request to the trustee for notice of an increased trustee's fee, and has given an address for receiving notice by mail. 3. If a beneficiary files a petition for review of an increased trustee's fee or for removal of a trustee and serves a copy of the petition on the trustee within the thirty-day period, the increased fee does not take effect until otherwise ordered by the court or the petition is dismissed.
Section History: Recent Form 99 Acts, ch 125, §46, 109; 2000 Acts, ch 1150, §24 C2001, §633.4111 2002 Acts, ch 1107, §9; 2005 Acts, ch 38, §54 CS2005, §633A.4111