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Estate Administration
Probate & Non-Probate Assets
Payment of the Decedent’s Debts
Death Certificates
Probate Court Costs
Attorney / Executor Fees
Role of the Executor
Estate Tax
Income Tax – Estate
Income Tax – Beneficiaries
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Be sure to ask how the attorney charges for estates prior to engaging his/her services. It is helpful to have a written fee agreement with the attorney before the work begins.
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To learn more about
Handling An Estate
Contact Us to Schedule a Visit
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Attorneys customarily charge either based on a percentage of assets or on a project/hourly basis. If consents are received from all parties affected by the fee, the most a lawyer can charge in Hamilton County (Ohio) without a hearing before the judge is:
- • 5.5% of the first $50,000 of probate assets
- • 4.5% of the next $50,000
- • 3.5% of the next $300,000
- • 2% of the assets above $400,000
- • 2% on real estate that is not sold
- • 1% on non-probate assets includible on the estate tax return
- • 1/2% on non-probate assets transferring between husband and wife
Although some attorneys charge based on this percentage of assets basis, many attorneys charge for estates based on the amount of time and expertise required to complete the work. Either way the attorney charges, reducing this fee makes sense. Attorneys are hired by the executor, who should find out how the attorney charges for estate administration before engaging the attorney’s services.
Attorney fees are payable at the end of the estate process when the final account is prepared for filing with Probate Court unless otherwise approved by the Court.
Executors can be compensated for the responsibility taken and the time and expertise necessary to complete the estate process. Executor fees are set by Ohio statute and are similar to attorney fees, except the percentages are somewhat lower:
- • 4% of the first $100,000 of probate assets
- • 3% of the next $300,000
- • 2% of the assets over $400,000
- • 1% on real estate that is not sold and on non-probate assets included on the estate tax return (except for survivorship assets, for which there is no fee)
Some executors consider their services to be a gift to their families and choose to forego the fee. Other estates are more complicated, or past services have been rendered, which factor into the executor’s decision to take the fee. It is entirely the executor’s decision. Because executor fees are taxable income for federal and Ohio income tax purposes, creative ways are sought to legally compensate the executor while paying the least amount of tax. (See tip under Role of Executor)
Executor fees are payable at the end of the estate process when the final account is prepared for filing with Probate Court unless otherwise approved by the Court.
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