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Computation Of Corporate Fiduciary Compensation 13-CFC - Ohio
| Computation Of Corporate Fiduciary Compensation Form. This is a Ohio form and can be used in Trust Probate Lucas County (Court Of Common Pleas) . |
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PROBATE COURT OF LUCAS COUNTY, OHIO JUDGE JACK R. PUFFENBERGER Trust OF ______________________________________________________________________, CASE NO. _________________________ COMPUTATION OF CORPORATE FIDUCIARY COMPENSATION [LOCAL RULE 74.2] (A) For purposes of this rule a Corporate Fiduciary shall be defined as a bank or trust company authorized to conduct a trust business under the laws of the State of Ohio or of the United States. (B) Except where the governing instrument makes a different provision for compensation, a corporate fiduciary, serving in the capacity of guardian or trustee who is accountable to the court may charge on a quarterly basis for ordinary services performed in connection with each separate guardian or trust estate: 1) An amount to be computed on the fair market value of the principal of the trust or guardianship property, in accordance with the following schedule, such compensation to be charged one-half to income and onehalf to principal, unless the beneficiary or beneficiaries have the power to invade the corpus in which case all compensation shall be paid out of income unless otherwise provided in the instrument creating the trust. $10.00 per $1,000.00 on the first $1,000,000.00 of the fair market value of the principal; $7.50 per $1,000.00 on the next $1,000,000.00 of the fair market value of the principal; $______________ $______________ $5.00 per $1,000.00 on any amount over $2,000,000.00 of the fair market value of the principal; $______________ 2) 3) The corporate fiduciary may charge a minimum fee of $2,500.00 annually. $______________ A separate fee, based upon time expended, may be charged for the preparation and filing of fiduciary income tax returns. This fee may not exceed $500.00 except for just cause shown. $______________ (C) For the purpose of computing the trustee's and guardian's compensation as herein provided, the fair market value of the principal shall be determined on a quarterly basis. (D) Additional compensation for extraordinary services may be allowed upon application. The Court may require that the application be set for hearing and notice thereof be given to interested parties in accordance with Civil Rule 73(E). The notice shall contain a statement of amount of the compensation sought. $______________ (E) The compensation of co-trustees in the aggregate shall not exceed the compensation, which would have been payable if only one trustee had been acting, except in the following instances: $______________ 1) Where the instrument under which the co-trustees are acting provided otherwise; or Where all the interested parties have consented in writing to the amount of the co-trustees' compensation, and the consent is endorsed on the co-trustees' account or evidenced by separate instrument filed therewith. TOTAL CORPORATE FIDUCIARY COMPENSATION $______________ REV 4/25/06 2) LUCAS COUNTY PROBATE COURT FORM 13-CFC COMPUTATION OF CORPORATE FIDUCIARY COMPENSATION American LegalNet, Inc. www.USCourtForms.com
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