What can an executor charge for their fee?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What can an executor charge for their fee?
My younger sister has been the executor of our father’s estate for 3 1/2 years. His total estate with property and furnishings was approximately: $400,000. What percentage of this estate amount can my sister legally charge the estate for her executor fee? We have one sister who has fought this estate process during this entire time and thinks that my sister’s request to receive $7000 for her duties is excessive. The executor sister did live rent free in my dad’s home for a period of time, but I believe that is not an issue in determining an executor’s fees.
Asked on November 15, 2010 under Estate Planning, Minnesota
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
- The minimum fees is 4% of the for the first $100,000 value of the property and,
- 3% of the next $100,000,
- 2% of the next 800,000,
- 1% of the next 9,000,000,
- 1/2 of 1% of the next 15,000,000.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.