Editor’s note: This is the first in a two-part series.
In 2006, Pennsylvania passed the Uniform Trust Act, 20 Pa. C.S.A. §7701, et seq. With respect to trustees’ compensation, Pennsylvania’s statute restated a trustee’s right to reasonable compensation. Then, it took a giant step further than the Uniform Trust Code, on which the Uniform Trust Act was modeled it created a presumption that "compensation at levels that arise in a competitive market shall be presumed to be reasonable in the absence of compelling evidence to the contrary."
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