Section 564:21 Compensation for Trustees of Non-Charitable Trusts.
I. A trustee of a non-charitable trust shall be allowed reasonable expenses incurred in the execution of the trust; and unless otherwise expressly provided in the trust instrument, such trustee shall have such reasonable compensation for services as the judge may allow.
II. In the case of any corporate or professional trustee of a non-charitable trust, the probate court recognizes a rebuttable presumption that reasonable compensation for the trustee's services shall be defined by that institution's or professional's published inter vivos fee schedule or fee agreement, in effect at the time services are rendered. Corporate or professional trustees shall submit an affidavit to the probate court reciting their inter vivos fee schedule or fee agreement, in effect at the time services were rendered; a statement that the charges for the services rendered in this account are in accordance with the charges in that fee schedule or fee agreement; and a certification that the beneficiaries were notified of that fee schedule or fee agreement. Preparation of any trustee account or appearance at probate court, by a corporate or professional trustee, if required, shall not ordinarily be an additional charge.
III. Unless otherwise expressly provided in the trust instrument, such compensation and expenses shall be apportioned between income and principal as the trustee shall determine to be equitable, and shall be reviewed by the probate court.
Source. 1947, 283:1. RSA 564:21. 1965, 176:1. 1997, 278:1, eff. Jan. 1, 1998.