Legal Question in Wills and Trusts in Maryland
Are assets in a trust considerd part of a probete estate for the purpose of dete
Question:
Are assets held in a revocable trust considered as part of the estate for the purposes of determining a personal representatives fee.
Personal representatives fee = $1800 for the first $20,000 plus 3.6 % of amounts over 20,000 of the ''probate'' estate
example:
$100,000 titled in the deceased name (which will process through probate)
$100,000 titled in the name of a living revocable trust set up by the deceased (which bypasses the probate process)
$200,000 total assets
Is the personal representative fee based on the $100,000 which passes thru probate or the $200,000 total estate?
1 Answer from Attorneys
Re: Are assets in a trust considerd part of a probete estate for the purpose of
Assuming that the assets in the trust are not administered under the will, they would not be used in the calculation of the personal representative's fee.
Richard S. Stolker
301-294-9500
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