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What is a typical executor fee in Georgia?

Statutory commissions. 53-6-60(b), the executors commission is 2.5 percent of all funds received by the estate and 2.5 percent of all funds paid out of the estate; such commission on the amounts flowing through the estate are the executors as a matter of statutory right. In re Estate of Sims, 259 Ga. App.

How long does an executor have to settle an estate in Georgia?

There is no deadline for settling a Georgia estate. Depending on the size of the estate, beneficiaries can anticipate the probate process to take anywhere from six months to several years. While there is no deadline, there are dispute deadlines that beneficiaries should consider.

How much does an administrator of an estate get paid in GA?

The Executor or Administrator may also be entitled to statutory fees, which in Georgia include, for most kinds of assets, a commission of two and one half percent (2.5%) of the value of the assets which come into the estate, plus two and one half percent (2.5%) of the value of the assets which are paid out of the

How long does an executor have to settle an estate in Georgia?

There is no deadline for settling a Georgia estate. Depending on the size of the estate, beneficiaries can anticipate the probate process to take anywhere from six months to several years. While there is no deadline, there are dispute deadlines that beneficiaries should consider.

What are the duties of an executor in Georgia?

After your death, your executors primary job is to protect your property until any debts and taxes have been paid, and then transfer whats left to those who are entitled to it. Every state has some rules about who may serve as the executor of an estate that goes through probate.

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How much does a trustee of a trust get paid in Georgia?

One percent of cash and the fair market value of any other principal asset received upon the initial funding of the trust and at such time as additional principal assets are received; and.

Does executor of estate get paid in Georgia?

In Georgia, the executor is known as a personal representative. Executor compensation for Georgia estates can be set by the will, a prior contract with the decedent, or an agreement with the executor and the estate heirs. If none of those exist, Georgia statute sets compensation to: 2.5% of cash received.

How do you become executor of an estate after death in Georgia?

In order to have an executor or administrator appointed, a petition has to be filed with the Georgia probate court. With that petition, you are asking the court to appoint an executor or administrator formally. This process is necessary even when a deceased person has appointed an executor in their will.

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