Legal Question in Wills and Trusts in Texas
''Wills and Executors''
How is the fee of the executor of a will determined?
What is the percentage? The executor is a lawyer and
a family friend.
Asked on 12/20/01, 9:26 pm
1 Answer from Attorneys
Peter Bradie
Bradie, Bradie & Bradie
Re: ''Wills and Executors''
There really is no specific determination under those circumstances. Arguably, the attorney could charge a fee based upon the hours put in to administer the estate, at the hourly rate usually charged. The maximum charge allowed an institutional executor/administrator is 2.5% of assets collected for the estate, and 2.5% of assets distributed on behalf of the estate; arguably a maximum of 5%.
Don't be embarassed to ask the attorney what, if anything, will be charged against the estate for the executor's services. It's a fair question.
Answered on 12/21/01, 4:51 pm