EXECUTOR FEES

[probate]

WHAT ARE REASONABLE FEES FOR A EXECUTOR TO CHARGE FOR PROBATING A WILL(NOT TO INCLUDE USING ATTORNEY'S FOR LEGAL MATTERS, TELEPHONE CALLS, ETC.)IN STATE OF IL.

 

[buckspc]

Executor Fees

Executor Fees are a customary 5% or less. If its a relative or close friend most of the time the fees are waived, depends on the person doing it. This is a personal opinion, Buckspc

 

[dmode101]

I am an Illinois probate attorney. Optimally, the executor should keep track of time spent and charge based on a reasonable hourly rate. It really depends on the nature and extent of the work performed. However, I have find that 2% is a good rule of thumb for larger estates, and maybe 3-5% for smaller estates. As far as waiving fees, that is totally up to the executor. Some executors who are also beneficiaries waive fees because executor's fees are taxable income.