Legal Question in Wills and Trusts in Massachusetts
executor percentage
my mom and aunt were named executors of my grandparents estate. What is the percentage they get for being an executor in the state of Massachusets?
3 Answers from Attorneys
Re: executor percentage
In Massachusetts, an executor is not entitled to any percentage of the deceased's estate.
The executor may charge the estate a reasonable fee for his or her services. What is reasonable depends on a number of factors, and it is not always beneficial for the executor to receive money from the estate in the form of taxable income.
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Re: executor percentage
There is no set percentage. An executor may charge a reasonable fee for their services, but should consider whether it would be more beneficial to forego taxable income if they are entitled to nontaxable bequests. They should consider retaining an attorney to assist with the probate. Good Luck!
Re: executor percentage
Usually it is an hourly rate.
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