The Indiana Trust Code’s Arrangement Relating to a Trustee’s Settlement

The Indiana Trust Code provides each Trustee a legal right to receive monetary compensation for his/her work administering the Trust. absent language within the Trust document restricting settlement. Indiana Trust Code Sections 30-4-15-1-17 and 18 stated their rights to settlement.

As the settlor or owner of your Trust, you can determine just how much your Trustee may receive as sensible settlement for his/her efforts. A state court can overthrow or alter the terms of the settlement offered by increasing your Trustee’s settlement or decreasing it. An Indiana court might overrule or change a Trustee’s payment if his/her tasks are significantly various from those required or intended when the Owner developed the Trust. An Indiana court might also change a Trustee’s settlement if the compensation scheme offered within the Trust is too low or expensive and would not reasonably compensate him/her.
A Trustee may also request compensation plus interest directly from the properties and property within the Trust if he/she expended his/her own funds to administer it, if correctly spent. A Trustee can receive a reasonable amount for repayment plus interest if the Trust was unjustly enhanced by his/her work. According to the Indiana Trust Code, a Trustee’s advance payment of his/her own funds to safeguard the properties within the Trust produces a lien against the possessions within the Trust until he/she gets reasonable compensation plus interest.