Legal Question in Wills and Trusts in Virginia

Generally speaking, a Commissioner of Accounts will approve an executor's fee not exceeding 5%.

Virginiia's Standing Committee on Comissioners of Accounts recommemds

the following fee schedule when there is no reference in a will:

5% for the first $400,000 (of estate assets)

4% for the next $300,000

3% for the next $200,000

2% for $1,000,000 +

Above $10,000,000 must be negotiated

+

5% on all income receipts (from estate assets)