Section 12.23 Expenses, Compensation, and Bond of Custodian

• Library: Trusts and Powers 2013 Supp

E. (§12.23) Expenses, Compensation, and Bond of Custodian

Subject to specified terms in the agreement, a personal custodian may be reimbursed from the custodial estate for managerial expenses reasonably incurred. The custodian is also authorized reasonable compensation, if not a donor, but the compensation must be elected affirmatively each year, or the right to compensation for that year lapses. The custodian is not required to post bond unless bond is required after a court proceeding or the agreement...