Estates
Probate
British Columbia

What is the fee an executor of an estate receives in Wisconsin?

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Wiki User
2005-09-14 23:17:00
2005-09-14 23:17:00

Sometimes people who make up their Wills will have a clause pertaining to this very subject, but most never do. I have it in my Will for my Executrix. It's generally 1% - 5%, but if you go for 4% - 5% it could be questionable by the courts and reduced. I'd go for an even 3%.

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The Executor can receive up to 5% of the estate assets, followed by 5% of the income the estate produces.

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What is executor fee of will in Louis?

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No, the executor works for the estate. The estate will pay the executor a reasonable fee. The beneficiary has limited direction that they can give the executor.

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The estate pays the executor. The fee is either approved by the court or proscribed by law.

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Tennessee courts typically base the fee on the following: if the value of the estate is under $50,000 a minimum fee of $500 to the estate executor is considered reasonable.

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The fee is based on the effort and is usually an hourly rate. It is standardized in some states. The executor must show the court records and documentation to demonstrate to them that the effort is legitimate and the court must approve the amount.

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Yes. As long as the estate is open the executor has a right to the executor's fee. However, they cannot dally. The estate must be handled with expediency or the beneficiaries should complain the the court.Yes. As long as the estate is open the executor has a right to the executor's fee. However, they cannot dally. The estate must be handled with expediency or the beneficiaries should complain the the court.Yes. As long as the estate is open the executor has a right to the executor's fee. However, they cannot dally. The estate must be handled with expediency or the beneficiaries should complain the the court.Yes. As long as the estate is open the executor has a right to the executor's fee. However, they cannot dally. The estate must be handled with expediency or the beneficiaries should complain the the court.

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They get paid for reasonable out of pocket expenses as the court may allow. There is no set amount and if it is not stated in the will then the beneficiaries decide the amount. If they can not agree on the fee a judge decides what is reasonable.

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The fee paid to the executor is considered taxable income.

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It will depend on the estate. The executor is entitled to their fee by law, and that can take precedence over debtors.

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That will depend on the will. There is nothing to prevent the executor from being left something, and they can collect a fee from the estate.

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Yes. There is a lot of work and responsibility involved in being the executor of an estate. The one sibling/beneficiary who is appointed should not be reqired to work for the other beneficiary for free. In some cases the executor may not charge the statutory fee, however, they should not be expected to work for free. The executor fee should be paid from the estate. If one of two sibling is inheriting real estate then they should make a cash contribution equal to one-half of the executor's fee.

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The executor is entitled to be paid for their work. The court has to approve the distribution and the fee they charged, which is often set by law. If the estate has been closed, you can sue the executor if they breached their fiduciary duty.

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It is valued on the date chosen by the executor for the valuation of the estate. Check the laws for the allowable range in your state.

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I've heard anywhere from 3 to 5 percent.

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No. They can choose to not charge a fee but that is up to the executor.No. They can choose to not charge a fee but that is up to the executor.No. They can choose to not charge a fee but that is up to the executor.No. They can choose to not charge a fee but that is up to the executor.

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The maximum is established by law. The executor determines the fee and gets it approved by the court.

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The executor can move into the estate. However, they do need to pay rent or show the court how they are compensating the estate, for instance, free rent instead of collecting a fee.

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An estate is the total value of all your assets at the time of your death.

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No. The executor gets no commissions. They get paid a fee set by the state.You need guidance from the attorney who is handling the estate. An executor is personally liable for mishandling estate property or funds.


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