Content Overview
- Summary
- Why Do I Need To Appoint A Personal Representative?
- What Does A Personal Representative Do?
- Does A Personal Representative Get Paid?
- Whom Can I Legally Choose As A Personal Representative?
- Is The Person I Choose Required to Serve As Personal Representative?
- How To Choose A Personal Representative
- What If I Want To Change My Choice Of Personal Representative?
- Qualities To Look For In A Personal Representative
- Does My Personal Representative Have To Be An Attorney?
- Discussions To Have With Your Personal Representative
Personal Representative/Executor
Does A Personal Representative Get Paid?
Next » « Previous4/11
A Personal Representative is legally entitled to payment for serving.
Ultimately the probate court decides the amount of the fee -- generally by following recommended guidelines in state law. The guidelines usually call for the Personal Representative to receive a percentage of the value of your property. The overall range can be as high as 7% of the value of your estate if your estate is small, decreasing to 1 -- 2% of the value of larger estates.
If your Personal Representative is a close relative or friend, she or he can choose to take less than the statutory fee -- or to waive the fee altogether.
Get Your Personal Guide
Please share how this information is useful to you. 0 Comments
Post a Comment Have something to add to this topic? Contact Us.