QUESTION
What percentage is paid to an executor?
Asked on Nov 24th, 2014 on Estate Planning - Florida
More details to this question:
Can executor recover expenses of administration as soon as estate settles? Who gets paid first: bank credit cards or individual who made personal loan to deceased?
1 ANSWER
2 Awards
Pursuant to the Florida Probate Code, personal representatives are entitled to compensation at the rate of 3% for the first $1 million. See Section 733.617 of the Florida Statutes. Florida Probate Code also contains an order of priority for paying Estate debts and specifically Section 733.707 of the Florida Statutes lists an order in which estate creditors get paid. You should really consult with a probate attorney on the specifics of your case. Good luck!
Answered on Nov 25th, 2014 at 6:14 PM