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Ask Ely Your Own Question
Ely, Counselor at Law
Category: Estate Law
Satisfied Customers: 102320
Experience:  Fully licensed attorney in Texas in private practice.
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I have been administrator of my parents Estate/Trust since

Customer Question

I have been administrator of my parents Estate/Trust since Dec. 2011.
I have 3 siblings 2 of which had everything tied up in court until Dec of 2014. Then one of those died Feb. 2015.
The third sibling only gets a percentage of her fourth each month, as stated in the trust.
My husband and I have been dealing with my parents home and 3 rent houses since early 2010. My parents lived with us at that time.
I have finally filed income tax for 2011 but still have 2012-2016 to file.
Most money has been collected and all bills paid. Houses and property have been divided between us.
I'm trying to divide what money I have now.
What can I charge for my Executor fees?
Submitted: 1 year ago.
Category: Estate Law
Expert:  Ely replied 1 year ago.

Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

1) If there was a Will and it states how much the Executor should be paid, then the Will controls.

2) If there is no Will or it does not state specifically how much an Executor is to be paid, Texas courts goo off Tex. Estate Code Chapter 352, which states in part:

Sec. 352.002. STANDARD COMPENSATION. (a) An executor, administrator, or temporary administrator a court finds to have taken care of and managed an estate in compliance with the standards of this title is entitled to receive a five percent commission on all amounts that the executor or administrator actually receives or pays out in cash in the administration of the estate. (b) The commission described by Subsection (a): (1) may not exceed, in the aggregate, more than five percent of the gross fair market value of the estate subject to administration; and (2) is not allowed for: (A) receiving funds belonging to the testator or intestate that were, at the time of the testator's or intestate's death, either on hand or held for the testator or intestate in a financial institution or a brokerage firm, including cash or a cash equivalent held in a checking account, savings account, certificate of deposit, or money market account; (B) collecting the proceeds of a life insurance policy; or (C) paying out cash to an heir or legatee in that person's capacity as an heir or legatee.

Sec. 352.003. ALTERNATE COMPENSATION. (a) The court may allow an executor, administrator, or temporary administrator reasonable compensation for the executor's or administrator's services, including unusual efforts to collect funds or life insurance, if: (1) the executor or administrator manages a farm, ranch, factory, or other business of the estate; or (2) the compensation calculated under Section 352.002 is unreasonably low. (b) The county court has jurisdiction to receive, consider, and act on applications from independent executors for purposes of this section.

As you can see, it is a subjective matter, and is based on the above subjective factors. The Executor prepares the bill, and either the beneficiaries or the Court (if the probate is dependent/supervised by the court) can object to the fee and have a hearing to possibly have it lowered.

I hope this helps and clarifies. Please use the SEND or REPLY button to keep chatting, or please RATE when finished. You may always ask follow ups at no charge after rating. Kindly rate my answer as one of TOP THREE FACES/STARS and then SUBMIT, as this is how experts get credit for our time. Rating my answer the bottom two faces/stars (or failing to submit the rating) does not give me credit and reflects poorly on me, even if my answer is correct. I work very hard to formulate an informative and honest answer for you; please reciprocate my good faith with a positive rating.

Expert:  Ely replied 1 year ago.
Hello again. This is a courtesy check in to see if you needed anything else in regards ***** ***** question because you never responded or replied positively. I am simply touching base. Let me know. Thanks!

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