How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Richard Your Own Question
Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 55009
Experience:  Attorney with 29 years of experience.
17027240
Type Your Legal Question Here...
Richard is online now
A new question is answered every 9 seconds

What is a reasonable amount to ask an executor?

Customer Question

what is a reasonable amount to ask for as an executor?
Submitted: 1 year ago.
Category: Legal
Expert:  Richard replied 1 year ago.

Good morning. My name is ***** ***** I look forward to helping you.

The CA Probate Code sets forth specific guidance for executor compensation. The applicable statute, Section 10802, states that if compensation is addressed in the will, it can only be changed if the court grants executor’s petition to be relieved of those testamentary compensation provisions. If fees are not governed by specific terms in the will, or relief from those terms is granted, this statute provides for the following schedule of percentages based on the value of the estate to be distributed:

(1) Four percent on the first one hundred thousand dollars ($100,000).
(2) Three percent on the next one hundred thousand dollars ($100,000).
(3) Two percent on the next eight hundred thousand dollars ($800,000).
(4) One percent on the next nine million dollars ($9,000,000).
(5) One-half of one percent on the next fifteen million dollars ($15,000,000).
(6) For all amounts above twenty-five million dollars ($25,000,000), a reasonable amount to be determined by the court.

In calculating the value of the estate for this purpose, encumbrances and obligations are not considered.

Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as OK, Good or Excellent (hopefully Good or Excellent). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!

Related Legal Questions