What can an Executor charge for being an Executor in PA
... Hello ... unfortunately, there is no typical amount ... it must only be reasonable ... any schedule that is followed may be helpful, but you should not hand your hat on it ...
... And an attorney would have to understand all of the details of the estate in order to remotely suggest something reasonable ...
... Good luck ... sorry for not being able to answer a question for you simply.
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Family Law Attorney
I agree with Attorney Whalen. The fee must be reasonable. You can call a fee probate attorneys for their opinions, but ultimately, unless a beneficiary objects, the court does not review accountings and fees.
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Wills and Living Wills Lawyer
As Mr. Whalen indicates, there is no specific allowable amount. Legally it must be fair and reasonable. If called upon to review the amount paid to the Executor, the Court will consider a number of factors, including the nature of the assets held by the decedent at the time of death, the complexity of the administration and amount of time devoted to the administration. There is a guideline referred to as the Johnson Estate fee schedule. Whether the amount calculated pursuant to the guideline is fair and reasonable for a particular estate, depends upon the circumstances.
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3 lawyers agree
It really does depend on the time spent and the complexity. The executor should keep good records of time, services, and expenses, in order to justify the fee especially if he or she is going to charge much more than the "Johnson guidelines," which I know are not official nor are they even recommended, but my personal opinion is that they are still used as a measuring stick. If there is very little to do, for example if almost all of the decedent's assets are consolidated in a brokerage account, then the charge shouldn't be very much.
Even though the court may not review them, if the executor's fee appears to be out of line on the PA inheritance tax return where they will be a deduction, there is always the chance that the PA Department of Revenue will ask the exec. to justify them. The inheritance tax return is a good window into the complexity of the estate. Also, the fee will be reviewed by the Attorney General's office if there is a charitable bequest in the will, so again they may be questioned.
The bottom line is to get the advice of an attorney if you want more specific advice about what is reasonable in a given situation.
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1 lawyer agrees