In the state of indiana is there a percentage rate for the executor of a will
Is There A Standard Percentage Rate Of Estate's Assets Typically Paid To An Executor Of A Will For Handling Affairs?
In the United States there may be. Typically this will be mandated by state laws as well as, possibly, federal regulations. The executor can waive the fees or reduce them, but they have the right to take the full amount. The fee that the executor can charge is often the same as the amount that the probate lawyer can charge; if the probate lawyer and executor are the same person, she can charge double.
Off hand I think the amount is typically 2-5% of the value of the estate. PLUS TAX and other fees, in some cases.
In the UK the situation is very different. Executors may not charge at all for the privilege of handling the estate. Executors can claim for out-of-pocket expenses, though -- like if they have to travel somewhere or stay in a hotel to dispose of the estate. There would also usually be a separate person acting as probate lawyer (soliciter) in the UK, and she/he would simply quote for their services (not as a flat percentage of the value of the estate).
Off hand I think the amount is typically 2-5% of the value of the estate. PLUS TAX and other fees, in some cases.
In the UK the situation is very different. Executors may not charge at all for the privilege of handling the estate. Executors can claim for out-of-pocket expenses, though -- like if they have to travel somewhere or stay in a hotel to dispose of the estate. There would also usually be a separate person acting as probate lawyer (soliciter) in the UK, and she/he would simply quote for their services (not as a flat percentage of the value of the estate).