What is the executors fee in the state of Kentucky?
Full Question:
Answer:
KRS 395.150 Compensation of representatives.
(1) The compensation of an executor, administrator or curator, for services as such,
shall not exceed five percent (5%) of the value of the personal estate of the
decedent, plus five percent (5%) of the income collected by the executor,
administrator or curator for the estate.
(2) Upon proof submitted showing that an executor, administrator or curator has
performed additional services in the administration of the decedent's estate, the
court may allow to the executor, administrator or curator such additional
compensation as would be fair and reasonable for the additional services rendered,
if the additional services were:
(a) Unusual or extraordinary and not normally incident to the administration of a
decedent's estate; or
(b) Performed in connection with real estate or with estate and inheritance taxes
claimed against property that is not a part of the decedent's estate but is
included in the decedent's estate for the purpose of asserting such taxes.
KRS 395.155 Computation of personal representative's commission.
For the purpose of computing commissions whenever any portion of the dividends,
interests, rents or other amounts payable to an executor, administrator, trustee, guardian,
conservator, curator or other personal representative or fiduciary is required by any law of
the United States or other governmental unit to be withheld for income tax purposes by
the person, corporation, organization or governmental unit paying the same, the amount
so withheld shall be deemed to have been collected.