5% Commission Allowed
You are generally allowed a five percent (5%) commission for administering an estate. The commission is based upon the PROBATE ESTATE and may not include real estate. Real estate can be included ONLY if you are the named Executor(s) under the Will and the Will empowers you to sell PROBATE real estate. If you convert the real estate to cash, you may include the proceeds in your commission; otherwise, you will need the consent of the beneficiaries / heirs to include it in your commission.
You do not have to take a commission. It is earned income and must be reported on your personal tax return.
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