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executer fee

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misszr2

Junior Member
My state is Wisconsin. My brother is executer of my father's estate. He is entitled to 2 percent of the estate for his work in carrying out the will. If he should accept this money is he liable to pay taxes on this fee or should he deny the fee and put it into the estate.
 


noname87

Member
Yes he will be taxed.

If federal estate taxes are due, then it would probably be better for him to take the fee and pay income taxes. Then if it is his desire, he can gift part of it to you. His tax rate should be lower than the estate rate.

If there are no federal estae taxes due, then it would be better declining the fee if that acceptable to him. That wayl less taxes will be paid overall.
 

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