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Trust

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mvaldez33

New member
What is the name of your state?AZ
What does the trustees receive when I pass away? I have two trustees and do they both get a percentage or is the percentage split between both trustees?
 


adjusterjack

Senior Member
What is the name of your state?AZ
What does the trustees receive when I pass away? I have two trustees and do they both get a percentage or is the percentage split between both trustees?
Here's the trustee compensation section of the AZ Trust Code.

14-10708. Compensation of trustee
A. If the terms of a trust do not specify the trustee's compensation, a trustee is entitled to compensation that is reasonable under the circumstances.
B. If the terms of a trust specify the trustee's compensation or refer to another ascertainable source for determining that compensation, the trustee is entitled to be compensated as specified, but the court may allow more or less compensation if either:
1. The duties of the trustee are substantially different from those contemplated when the trust was created.
2. The compensation specified by the terms of the trust would be unreasonably low or high.
https://www.azleg.gov/arsDetail/?title=14

I suggest you familiarize yourself with the entire Trust Code. Starts at 14-10101
 

LdiJ

Senior Member
What is the name of your state?AZ
What does the trustees receive when I pass away? I have two trustees and do they both get a percentage or is the percentage split between both trustees?
Just in case you had your terminology mixed up, the trustee or trustees are the person or person who manage the trust after the grantor passes away. As it has already been explained they often get a fee for doing so. The beneficiaries of the trust are the ones who actually receive money or property from the trust.
 

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