How much can an executor of an estate charge in PA?

Each portion of an estate’s value gets charged its own marginal rates, which executors can stack to reach their total acceptable fee. At 5 percent of the estate value, most Pennsylvania judges would deem $2,500 an acceptable Johnson fee.

What is considered a small estate in Pennsylvania?

Pennsylvania has a simplified probate process for small estates. You can use the simplified small estate process in Pennsylvania if property (not counting real estate, certain vehicles, certain payments the family is entitled to, and funeral costs) is worth $50,000 or less.

What was the executor fee for my brother?

We also discovered from the letter that my brother took an executor fee of $20,000. The entire estate, once settled, will be about $600,000. My question is regarding the executor fee.

What is the probate process for small estates in Pennsylvania?

The process of administering an estate in Pennsylvania usually is not lengthy or costly. In some cases, however, avoiding the formal probate process may result in savings. There is a special process for small estates in Pennsylvania that facilitates the transfer of property left by a decedent without the need for formal probate.

Can a sibling decline to be an executor or trustee?

Siblings can decline an appointment as executor or trustee so that someone else can be the fiduciary and make decisions on asset distributions. If siblings are named as fiduciaries, they need to formally decline the appointment.

How much does a PA executor charge per hour?

She has also taken attorneys fees of $225 per hour to do things that would not normally require an attorney such as closing bank accounts, mailings,reading emails, looking up addresses, time records for workers at a cost of $225 per hour to the estate.

What is the small estate law in Pennsylvania?

Pennsylvania Small Estates Law Wills and Estates – Small Estates – Pennsylvania Small Estates General Summary: Small Estate laws were enacted in order to enable heirs to obtain property of the deceased without probate, or with shortened probate proceedings, provided certain conditions are met.

Is it reasonable for brother to be executor of estate?

However, no one wanted it. You don’t want to be in the same boat (or condo, in this case). Your brother has managed your mother’s estate for two years and — given the time and stress involved in managing a person’s estate — particularly when family is involved, $20,000 is probably not unreasonable. It’s a thankless job, except for the remuneration.

How does the executor of an estate distribute money?

To begin the small estate process, the executor of the estate files a written request with the local probate court, asking to use the simplified procedure. The court may permit the executor to distribute the deceased person’s assets without going through all the parts of regular probate.