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Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
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What is the customary fee for an executor in North Carolina

Resolved Question:

What is the customary fee for an executor in North Carolina and are these funds taxable income?
Submitted: 8 years ago.
Category: Tax
Expert:  Merlo replied 8 years ago.

Hello rjm,


If the will itself does not specify the fee that is to be paid to the executor, then generally the fee should be based on the complexity of issues involved in settling the estate, but not to exceed 5% maximum of the estate assets.


Any income received by the executor for these fees is taxable income.


I am giving you a link below to a website that discusses various issues involved in the settlement of NC estates.


If this has been helpful please press the Accept button. Positive feedback is also appreciated.


Thank you.


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