Section 633A.4111 - Notice of increased trustee’s fee.

IA Code § 633A.4111 (2019) (N/A)

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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.

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

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Section 633A.4201 - Duty to administer trust — alteration by terms of trust.