Topic: Reasonable Compensation for Executor
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Answers to Common Questions
How to Calculate Compensation for an Estate Executor
The estate executor is the person named by a Last Will and Testament to manage the administration of a deceased's estate. Usually this individual is compensated for time and effort. A spouse or family member, however, can volunteer to serve... Read More »
Source: http://www.ehow.com/how_6179299_calculate-compensation-estate-exe...
What is the rate of compensation to the executor of an estate?
The rates of compensation of executors are fixed by the laws of the state in which the will was probated. Generally, executors get a percentage of the "corpus" and of the "income" of the estate. "Corpus" means the assets of the decedent at ... Read More »
Source: http://wiki.answers.com/Q/What_is_the_rate_of_compensation_to_the...
What is a reasonable fee for an executor of a will?
Executor's fees are generally set by statute however, the practice may vary from state to state. You need to inquire at your local court, check your state probate code or consult with an attorney who specializes in probate law. Read More »
Source: http://wiki.answers.com/Q/What_is_a_reasonable_fee_for_an_executo...
More Common Questions
Answers to Other Common Questions
A fee that represents a reasonable compensation for the amount of time and effort expended by the executor. In other words... there's no specific dollar amount; it depends on the details.
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Source: http://wiki.answers.com/Q/What_is_a_reasonable_executor_fee
In addition to all out-of-pocket expenses in managing and settling the estate, Personal Representatives (executors) generally earn a fee of about 2% of the probate estate for their work. (This varies moderately in jurisdictions and generall...
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Source: http://wiki.answers.com/Q/What_are_reasonable_executor's_fees
Executor and Trustee Compensation in Texas I have often been asked: Do I have to pay my executor? If I create a trust for my children, does the trustee have to be paid? In Texas, the answer is both simple and complicated, as most things usu...
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Source: http://answers.yahoo.com/question/index?qid=20080721131028AAM9y1z
In New York, a Trustee's Commission is determined under the Estates, Powers and Trusts Law. Section 2309 covers persons dying or lifetime trusts established after August 31, 1956. Section 2308 covers persons dying or lifetime trusts establi...
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Source: http://wiki.answers.com/Q/What+is+a+trustee+fee+for+a+living+will...
Answer I may be taking your question the wrong way, but it appears you are confused about Executor and Executrix. Executor is male and Executrix is female. It's quite common for someone leaving a Will to name 2 or more people as an Executor...
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Source: http://wiki.answers.com/Q/What_reason_would_one_executor_want_to_...
A few synonyms for reasonable are intelligent, level...
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Source: http://www.chacha.com/question/what-is-a-synonym-for-reasonable-%...
Reasonableness of compensation is an even more important issue after the Jobs and Growth Tax Relief Reconciliation Act of 2003's changes in the taxation of dividends. The IRS has long tried to reduce the compensation of C corporation owners...
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Source: http://goliath.ecnext.com/coms2/gi_0199-3213929/What-is-reasonabl...
