Will Executor Costs

[Sleepy]

Just curious as to what those of you who have been a recipient in a will had paid an executor to execute the will.

[Burnadell]

The recipient does not have the will probated. The Executor does...but they are one and the same.

The costs can vary between attorneys, so I will let them answer that. Generally, in Texas, probate is a simple process for simple wills and aren't (generally) expensive to probate. I have seen them done for $600, and I have seen them sone for several thousand.

[texansfan]

$500

http://www.shuttlawfirm.com

[Sleepy]

The recipient does not have the will probated. The Executor does...but they are one and the same.

The costs can vary between attorneys, so I will let them answer that. Generally, in Texas, probate is a simple process for simple wills and aren't (generally) expensive to probate. I have seen them done for $600, and I have seen them sone for several thousand.

$500
http://www.shuttlawfirm.com

So basically what you’re telling me is that $25,000 is excessive. Thanks!!

[deerwatcher51]

So basically what you’re telling me is that $25,000 is excessive. Thanks!!

Depends on the size and the complexity of the estate. I have seen an estate where a $100k executor fee was not excessive in my opinon.

[Sleepy]

Depends on the size and the complexity of the estate. I have seen an estate where a $100k executor fee was not excessive in my opinon.

I could maybe see that in something crazy.

This one is very simple and we aren’t talking millions here at all. No even a home involved.

[Burnadell]

So basically what you’re telling me is that $25,000 is excessive. Thanks!!

Are you saying you were quoted that fee?

What is the size of the estate, and what are the primary assets if no home? Any other real estate? A business involved?

[Grayson]

Are you saying you were quoted that fee?

What is the size of the estate, and what are the primary assets if no home? Any other real estate? A business involved?

I think he’s referring to the fee the executor is asking for his/her services as executor.

[Sleepy]

Are you saying you were quoted that fee?

What is the size of the estate, and what are the primary assets if no home? Any other real estate? A business involved?

Total accounts about $800K and a large building in Longview that has been leased for years by the city, also a little land.

I think he’s referring to the fee the executor is asking for his/her services as executor.

Yes, I’m referring to the executor fee for their services.

To make it clear, the executor is a family member. I have a feeling we are going to have a SHTF moment before long.

[texansfan]

So basically what you’re telling me is that $25,000 is excessive. Thanks!!

Not if you have a multi-million dollar estate with all types of assets

[Burnadell]

Yeah, sorry. I misread the question. Imagine that!

[Gbird]

We had my mom’s done for about $1,400. It was a turnkey job for us.


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[Burnadell]

We had my mom’s done for about $1,400. It was a turnkey job for us.


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He is talking about the Executor's fee, not attorney fees, as I originally thought.

Sleepy, in my experience, most family members who are also heirs do not charge a fee to settle the estate, but if the will allows it (most will allow a "reasonable" fee) it can be justified based on the complexity of the estate and the amount of time to settle it.

[mikemorvan]

3.125% seems like a reasonable fee. On $800k, that's $25k. $25,000 sounds like a lot of money. Being family members adds a layer. I've been the executor on two family estates, nothing of the size you're talking about. All i can say is "good luck".

[IowaHunter]

Maybe Sleepy is the executor and he's trying to make a little more bank