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Fiduciary Fees Ohio



Executor or administrator fees are established by the state legislature and are based on a percentage of the estate. The percentages are from 1% to 4%, depending upon the nature and value of the assets.




Fiduciary Fees Ohio


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An executor or administrator is entitled to a statutory fee, even though the fee is often waived. The statutory fee in Ohio is 4% of the first $100,000, 3% of the next $300,000, and 2% of probate assets over $400,000. Also, there is a statutory fee of 1% for real estate not sold, and a statutory fee of 1% for some assets not passing through probate. In cases where extraordinary services are required, the executor may apply for additional fees. A spouse who is an executor usually waives the executor fee, and a child often takes less than the statutory fee or no fee at all. Even if the fee is accepted, most heirs do not object to these fees, because the executor is often an heir. However, many who have been an executor of an estate will tell you that even the statutory executor's fee is not enough to compensate for the responsibility and expectations placed on the executor's shoulders. If all the heirs are also the executors, it is generally advantageous to waive the fee because executor fees are subject to income tax while assets passing to heirs are not.