Legal Question in Wills and Trusts in Georgia

Re: executors fees

Executors Fees are based on the value of assets collected and distributed and the amount of income earned by the estate. Obviously, larger estates bring larger exec fees. The rate is 2.5% of the value of assets received and 2.5% of the value of assets distributed (ie. investment securities of $100,000 are received and sold, proceeds of $100,000 are distributed to the beneficiaries - the exec fee is a total of $5,000). One small wrinkle - if assets are distributed in kind - a 3% fee applies. So if the investment securities above were not liquidated - but simply distributed outright to the beneficiaries - then an exec fee of $3,000 would apply. In addition, there is a fee of 10% for income earned by the estate (ie. an estate earns $100 in interest income, the applicable exec fee is $10). The 2.5% fee for assets received or distributed and the 10% fee for income earned are not to be duplicated for the same monies. In addition, an executor can petition the court for additional fees based on extraordinary circumstances.