Many people have asked us what a Personal Representative or Executor of charge for their services. Some inquiries originate from beneficiaries who understandably wish to make sure estate expenses are kept to a minimum. Other inquiries are from Personal Representatives who are unsure what is a fair and reasonable executory fee. They know they have done a lot more work than they anticipated and yet they still want to be fair.
To the beneficiaries: the time, skill and effort required of a personal representative is actually a lot more than you might realize. Spend some time looking at the wills and estates section of our website and you will soon realize some of what is involved.
To the Personal Representatives: well your role as Personal Representative can be onerous, the fee you receive is largely dependent on your own record-keeping. A thorough diary listing all the you have done makes it a lot easier to determine an appropriate fee and to satisfy the concerns of beneficiaries. Time is not the only factor in determining Personal Representative fees.
For a deeper look at the factors that determine personal representative fees and a table of the range of fees approved in previous court cases please check here. This is the latest addition to our website and hopefully will answer many questions and concerns.