Answer to the question: What is a reaonable fee to be the Executor of an estate for a family member??
April 28th, 2011 Filed under: Executor Fees — Estate Planning Author
I thought I’d post this question from michaelsmail@rogers.com since a lot of people seem to be asking it lately:
MY Sister is the EXECUTOR of my Mother’s very small estates (less than $15000). What would a reasonable fee be for acting as the Executor of the estate. Basically she arranged for the cremation, closed her bank accounts, gathered the funds into one account and is now ready to disburse them.THANKS, EVERYBODY !!!!!
Answer: Most states will have guidelines for this. In Illinois, named executor or executrix could get 5% of the estate. This is above their share they are granted in the will if they are named.This if or their time and processing fees. Although the lawyers and funeral home do rela good on this also.
Tagged:Law & Ethics
