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California Law (Last Updated: March 4, 2014) |
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Probate Code - PROB |
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Division 9. TRUST LAW |
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Part 3. TRUSTEES AND BENEFICIARIES |
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Chapter 1. Trustees |
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ARTICLE 5. Compensation and Indemnification of Trustees |
Section 15688.
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Notwithstanding any other provision of this article and the terms of the trust, a public guardian or public administrator who is appointed as a trustee of a trust pursuant to Section 15660.5 shall be paid from the trust property for all of the following:
(a) Reasonable expenses incurred in the administration of the trust.
(b) Compensation for services of the public guardian or public administrator and the attorney of the public guardian or public administrator, as follows:
(1) If the public guardian or public administrator is appointed as trustee of a trust that provides for the outright distribution of the entire trust estate, compensation for the public guardian or public administrator, and any attorney for the public guardian or public administrator, shall be calculated as that provided to a personal representative and attorney pursuant to Part 7 (commencing with Section 10800) of Division 7, based on the fair market value of the assets as of the date of the appointment, provided that the minimum amount of compensation for the public guardian or the public administrator shall be one thousand dollars ($1,000). Additionally, the minimum amount of compensation for the attorney for the public guardian or the public administrator, if any, shall be one thousand dollars ($1,000).
(2) For a trust other than that described in paragraph (1), the public guardian or public administrator shall be compensated as provided in Section 15680. Compensation shall be consistent with compensation allowed for professional fiduciaries or corporate fiduciaries providing comparable services.
(3) Except as provided in paragraph (1), reasonable compensation for the attorney for the public guardian or public administrator.
(c) An annual bond fee in the amount of twenty-five dollars ($25) plus one-fourth of 1 percent of the amount of the trust assets greater than ten thousand dollars ($10,000). The amount charged shall be deposited in the county treasury.