In Re Fourteenth and Partial Account of Emily W. Reed

Summary

The court affirmed an award of $175,000 in terminal compensation from the trust principal to the estate of a deceased trustee. It held that the will expressly prescribed compensation from trust income but was silent regarding compensation from principal at the termination of the trustee's service, so the trustee's estate retained a prima facie right to reasonable terminal compensation. The trustee's failure to seek interim principal compensation and the settlor's other financial provisions for her did not establish waiver or alter the compensation analysis.