Mercer v. Merchants National Bank

The question for decision in this case is whether a trustee may charge the portion of its fee attributable to principal at the termination of the trust instead of periodically during the life of the trust. The Probate Court (Treat, J.) allowed the defendant’s termination fee, and an appeal was taken to the superior court which also ruled in favor of the defendant-trustee. Plaintiffs’ exception to the court’s denial of their motion to set aside the verdict was reserved and transferred to this court by Loughlin, J.

The defendant was appointed successor trustee in 1926 of the trust under the will…