Legal Question in Wills and Trusts in Florida

Re: executor fees

The following is not legal advice and does not constitute an attorney client relationship.

Florida Statutes Chapter 733.617 Compensation of personal representative provides that:

(1) A personal representative shall be entitled to a commission payable from the estate assets without court order as compensation for ordinary services. The commission shall be based on the compensable value of the estate, which is the inventory value of the probate estate assets and the income earned by the estate during administration.

(2) A commission computed on the compensable value of the estate is presumed to be reasonable compensation for a personal representative in formal administration as follows:

(a) At the rate of 3 percent for the first $1 million

Accordingly, I do not think it is appropriate for both executors to take 3%, I believe it should be split.

Re: executor fees

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

It does not seem right to me but I am not aware of the work which they have done. If you are in objection, have your attorney file a motion with the court to challange the amount of the fees. Fees are up to the discretion of the court and are NOT set in stone.

Scott R. Jay, Esq.