Legal Question in Wills and Trusts in Illinois

Re: executor fees

Executor fees are normally tied to the amount and type of work that the executor has to do. And then the hourly rate should be usual and customary for the area. The court will look to see if the executor fees are reasonable.

First, you can check to see what a bank would charge per hour for executor's fees.

Also, fees may be determined by looking at the typical hourly wage of the person acting as executor (e.g., if the person is an attorney or accountant versus if they are a minimum wage earner).

Executors may be required to do a variety of tasks, ranging from menial tasks such as taking care of property (cleaning out a house and making repairs), to administrative tasks such as filing tax returns and inventories with the court. There may be different rates charged for these tasks.

Sometimes executors or attorneys charge a flat fee for an estate, but without knowing how much work will be involved, this is generally not a good idea, and it is harder to justify to the court and the beneficiaries.

I advise you to consult with the attorney for the estate to discuss this issue with him/her. That person will be able to give you a more accurate starting point on an hourly figure.

Good luck to you.