high % of probate is executor fees?

[4crawdad]

What is the name of your state? Virginia
we heard that probate costs could run from 5% to 7% of the total estate AND that most of the cost comes from the executor's fees. is this true?

so, if the executor is a family member who won't take money except for necessary expenditures (gas, time off work, etc.), what percentage then could probate costs run?

is there a webpage that shows the breakdown of probate court costs?

 

[Dandy Don]

You act like this is an excessive amount, when this is about the average in most states.

 

[4crawdad]

didn't mean for it to "sound" like anything
my pop said someone told him probate on his estate as of this date, could possibly run $50,000. someone told us kids that most of that could be executor's fees. none of us kids would take an "executor fees" when the time came to probate pop's estate (shudder) , so we'd like to go back to pop with a possible probate cost minus the executor fees. i guess we're not sure what an executor might normally charge??? we're actually honored that dad is considering doing a will (generations of his family in Louisiana apparently did not do wills), and i understand his concern about having a good chunk of his hard earned assets going elsewhere. we have mentioned him looking at a living trust, too. but, for now, if there's a certain percentage an executor normally takes and it turns out that probate costs would be minimal, it might ease his concerns. thanks

 

[Dandy Don]

Whoever told him that may not have known what they were talking about, and anyway a lot depends on the value of the estate. He can get a more honest answer by talking to a probate attorney or estate planner.

 

[4crawdad]

thanks Dandy Don.
i did find the following website:
http://www.ext.vt.edu/pubs/agecon/448-067/448-067.html
which states, "Court costs include filing fees and miscellaneous clerk's fees. These fees vary, but are usually about $20. The probate tax in Virginia is 10 cents per $100 of value of the probate estate, or 1/10 of 1%. The locality may add another 3 1/3 cents per $100 of value as a local tax. "