Good afternoon. The executor fee should not necessarily be based on the fair market value used for the Form 706...but that's a decent start. What should be deducted from that amount are any assets which are included in the estate over which the executor has no control and has no duties. For example, many assets, such as insurance policies, retirement assets and annuities, are included in the estate, but have designated beneficiaries..causing those assets to go directly through the designated beneficiaries and not through the estate to be subject to probate. So, the values used for the Form 706 are appropriate, but only those assets that go through probate should really be included.
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