Do fiduciaries have the right to compensation for their services in Arizona?

Fiduciaries in Arizona are generally entitled to compensation for their services unless there is a specific provision in their agreements that states otherwise. This means that if a fiduciary enters into a contract or agreement that explicitly indicates they will not be compensated or details alternative arrangements, that agreement takes precedence.

Compensation for fiduciaries recognizes the important responsibilities and duties they undertake when managing another person’s assets or interests. This compensation can come in various forms, such as a flat fee, hourly rate, or percentage of the assets managed. However, it must be clearly outlined in a contractual agreement to ensure that both parties understand the terms governing compensation.

The other choices relate to incorrect assumptions about compensation for fiduciaries. There's often a misconception that fiduciaries cannot charge for their services or can only be compensated under specific conditions, but in the absence of an agreement limiting compensation, they do have the right to payment for their responsibilities and efforts. This structure ensures that fiduciaries are incentivized to act in the best interests of those they represent while also being rewarded for their work.