What are the monetary benefits of being named Personal Representative and what legal and property decision-making powers come with this title?

A family member has filed to be named Personal Representative for my late aunt’s estate.

Asked on July 18, 2015 under Estate Planning, California

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

The monetary benefits could be substantial.  A fiduciary (which s what a PR is called as well) receives a statutory fee.  If the estate is between $100,000 and $1,000,000 then the fee is 2% of the probate estate value plus $3000.  The PR also has the power to make decisions regarding the assets of the estate but not to the detriment of the beneficiaries. Good luck. 


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