Legal Question in Wills and Trusts in California
Is a person serving as an executrix of a will entitled to a percentage of the estate including a house that has a reverse mortgage on it and what is the percentage.
Asked on 4/13/12, 3:47 pm
1 Answer from Attorneys
Jennifer Rouse
Meissner Joseph & Palley
If the Will is in a probate proceeding, then the executor is entitled to a percentage of the gross fair market value of all the assets subject to probate plus any gains or receipts ibn those assets and reduced by any losses. The percentages start at 4% of the first $100,000, 3% of the next $100,000, 2% of the next $800,000 and 1% of the next $3,000,000,
Answered on 4/13/12, 4:06 pm
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