First of all let me explain what an executor is. An executor administers the value of your estate once you die and it will be this person’s job to establish what you owned at the time of your death. The executor also pays any outstanding debts you might have and distributes your remaining assets. You can have more than one executor if you wish but a lot of people name their spouses as both the sole beneficiary and the sole executor of their estate. Naming the person you would like to act as executor is one of the most important elements of your will and your executor has full access to your estate and affairs. Common choices include: A lawyer, a bank/trust company, your next of kin or a close friend. Executors are responsible for handling the probate of your estate (probate means the process by which a will is authenticated and carried out). Provincial governments earn revenue by charging probate fees, with the exception of Quebec. When applied these fees often referred to as standard executor fees are usually a percentage of your estate’s value. For example, the probate tax in Ontario is $5 per $1,000 for the first $50,000 of the estate’s value and $15 per $1,000 after that. Alberta, conversely, charges a fee of $25 for the first $10,000 and a progressive fee for estates above that. The maximum charge is approximately $400 but how much you pay can sometimes vary between states. Executor fees everywhere in US are based on anything from expenses (travel etc) to how easy the estate is to handle and whether there are any complications. All fees that are not governmental in nature are negotiable by law.
In California- what is the fee an executor can expect from an an estate valued at $ 1,500,000?
I am Executrix of an estate and it has been going on for 15 months now. One other executrix stepped down at the request of another executrix (3 of us) (they just did not get on). The other executor I am working with is the son of the deceased, and I am finding it very hard. I know he doesn't want me to get an Executrix fee, and I feel that I do deserve it. I have not taken any monies at this point for all travel, correspondence, meetings etc. The estate is around$750,000.00. What percentage would I receive?
5% and down depending on complexity
The estate is $670.000,00, what is the executor fee?