QUESTION

What is a typical reasonable amount for an executive to charge for commission? Need to have an idea of what to expect.

Asked on Nov 23rd, 2012 on Estate Litigation - Michigan
More details to this question:
My mother passed away in January and my greedy sister is the executive.
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1 ANSWER

Litigation Attorney serving Greenwich, CT
Partner at Hilary B. Miller
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I think you mean "executrix," not executive. Michigan has adopted the Uniform Probate Code, which allows an executrix to receive a "reasonable" commission, not one unilaterally decided upon by the executrix. The court has the power to determine any dispute over the reasonableness of the fee. Fees for a modest size estate are generally in the range of 5%, although your mileage may vary depending on the nature of the assets, the difficulty in marshaling them and distributing them, and any other factors that apply.
Answered on Nov 24th, 2012 at 10:32 AM

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