What is the name of your state? AZ
My sister is executor of my father's estate and we are wondering what are appropriate executor fees to charge the estate for AZ. It is not a large estate, around $240,000. Thanks for any info.
As in many states, the AZ statute is not terribly specific:
14-3719. Compensation of personal representative
A personal representative is entitled to reasonable compensation for his services. If a will provides for compensation of the personal representative and there is no contract with the decedent regarding compensation, he may renounce the provision before qualifying and be entitled to reasonable compensation. A personal representative also may renounce his right to all or any part of the compensation. A written renunciation of fee may be filed with the court.
The Superior Court of Pinal County indicates that these factors are to be considered:
a. The time required (as supported by detailed time records), the novelty and difficulty of the issues
involved, and the skill required to do the service properly;
b. The likelihood that your acceptance as Personal Representative will preclude other employment;
c. The fee normally charged in the area for similar services;
d. The nature and value of estate assets, the income earned by the estate, and the responsibilities and
potential liability assumed by you as Personal Representative;
e. The results obtained for the estate;
f. The time limitations imposed by the circumstances;
g. The experience, reputation, diligence and ability of the person performing the services;
h. The reasonableness of the time spent and service performed under the circumstances; and,
i. Any other relevant factors.
