Apopka, FL asked in Probate for Florida

Q: What percentage if an estate does a substitute PR get paid?

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2 Lawyer Answers
Charles David
Charles David
Answered
  • Probate Lawyer
  • Gainesville, FL
  • Licensed in Florida

A: 3%, plus potentially an hourly rate for extraordinary services.

Phillip William Gunthert agrees with this answer

Phillip William Gunthert
Phillip William Gunthert
Answered
  • Probate Lawyer
  • Orlando, FL
  • Licensed in Florida

A: I would encourage you to speak with and work closely with your probate attorney as they are best suited to address this answer based on the precise details of the probate estate and work that the PR is doing for it. But generally you will find your answer in Florida Statute 733.617 and it is 3% on the first $1million of inventory estate assets (this does not include protected homestead), see below for more details.

SECTION 617Compensation of personal representative.

733.617 Compensation of personal representative.—

(1) A personal representative shall be entitled to a commission payable from the estate assets without court order as compensation for ordinary services. The commission shall be based on the compensable value of the estate, which is the inventory value of the probate estate assets and the income earned by the estate during administration.

(2) A commission computed on the compensable value of the estate is presumed to be reasonable compensation for a personal representative in formal administration as follows:

(a) At the rate of 3 percent for the first $1 million.

(b) At the rate of 2.5 percent for all above $1 million and not exceeding $5 million.

(c) At the rate of 2 percent for all above $5 million and not exceeding $10 million.

(d) At the rate of 1.5 percent for all above $10 million.

(3) In addition to the previously described commission, a personal representative shall be allowed further compensation as is reasonable for any extraordinary services including, but not limited to:

(a) The sale of real or personal property.

(b) The conduct of litigation on behalf of or against the estate.

(c) Involvement in proceedings for the adjustment or payment of any taxes.

(d) The carrying on of the decedent’s business.

(e) Dealing with protected homestead.

(f) Any other special services which may be necessary for the personal representative to perform.

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