What is the fair/customary compensation for an executor [FLorida] or an estate [ was in a trust- no probate]?
Which costs should be paid before determining the 'value' of the estate upon which the executor-trustee's compensation will be calculated?
Attorney Answers
2
Joseph Pippen ·
The "average" probate personal representative fee is 3%.
The average trustee fee is 1% to1.5%.
The fees are treated as an expense and taken off the top before the final distribution is calculated.
0 upvotes
Eric Jerome GoldTrusts AttorneyCalabasas, CACA licensed ·
Mr. Pippen is correct. The fees mentioned are calculated based on the gross estate, not the net estate. In other words, they are calculated before expenses and distributions.
0 upvotes
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