Legal Question in Wills and Trusts in Maine
Executor's Fee
I have been named executor of my sister's will. Her estate is large and complicated and also deals with property owned in foreign countries. Several of the beneficiaries live outside the U.S. What percentage of the estate should I charge as executor?
2 Answers from Attorneys
Re: Executor's Fee
There is a statute that determines the proper fee. William S. Stern
Re: Executor's Fee
If the estate is a Maine estate, and is complicated as you suggest, it would be advisable to hire a lawyer and an accountant to be sure all is done correctly. You can still be paid a fee for your services even if you hire professionals. The Fee in Maine must be "reasonable" which is not a %, but often hourly so that it reflects the actual efforts made to administer. The fee can be challenged by an interested person in the estate (heirs, creditors, etc).
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