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Trustee (or the holding of a trusteeship) is a legal term which, in its broadest sense, ... Not profit; however, may charge fees for services to the Trust [11]
It is not unusual for an individual to serve as trustee alongside a bank trustee. Both individual and corporate trustees may charge fees for their services, [33] although individual trustees typically serve gratis when they are part of the settlor's family or the settlor him/herself. The term "co-trustee" may fool either the bank trust officer ...
Accounting staffers within the Trustee's office review all debtor filings, and monitor trustee and attorney fees in all cases. Attorneys employed by the Trustee represent the office in United States bankruptcy court and pursue civil sanctions for some egregious violations of the law in Chapter 7, 12 and 13 cases.
Penn State must pay trustee’s legal fees amid controversy, Lackawanna County judge rules. Josh Moyer. October 3, 2024 at 5:28 PM. 1 / 3.
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Trustees must provide regular accountings of trust income and expenditures. A court of competent jurisdiction can remove a trustee who breaches their duty. Some breaches can be charged and tried as criminal offenses. A trustee can be a natural person, business entity or public body. A trust in the US may be subject to federal and state taxation.
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