                                 CODE OF VIRGINIA

EXPENSES AND COMMISSIONS ALLOWED FIDUCIARIES (§ 64.2-1208)

A. In stating and settling the account, the commissioner of accounts shall allow
the fiduciary any reasonable expenses incurred by him and, except in cases in
which it is otherwise provided, a reasonable compensation in the form of a
commission on receipts or otherwise. Unless otherwise provided by the court, any
guardian appointed pursuant to Chapter 20 (&#xA7; 64.2-2000 et seq.) or Chapter
21 (&#xA7; 64.2-2100 et seq.) shall also be allowed reasonable compensation for
his services. If a committee or other fiduciary renders services with regard to
real estate owned by the ward or beneficiary, compensation may also be allowed
for the services rendered with regard to the real estate and the income from or
the value of such real estate.

B. Notwithstanding subsection A or any provision under Chapter 7 (&#xA7;
64.2-700 et seq.), where the compensation of an institutional fiduciary is
specified under the terms of the trust or will by reference to a standard
published fee schedule, the commissioner of accounts shall not reduce the
compensation below the amount specified unless there is sufficient proof that
(i) the settlor or testator was not competent when the trust instrument or will
was executed or (ii) such compensation is excessive in light of the compensation
institutional fiduciaries generally receive in similar situations.

HISTORY: Code 1919, § 5425; Code 1950, § 26-30; 1985, c. 402; 1997, c. 921;
2005, c. 935; 2011, c. 518; 2012, c. 614.