In March of 1995 when the new Surrogate forms and rules came into effect, the Surrogate Rules Committee suggested fee guidelines of:
Lawyers - Core Legal Services (on the gross value of the estate)
- up to $150,000.00 - Base fee of $2,250.00
- plus ½ X 1%
- over $150,000.00 - Base fee of $2,250.00
- plus 1%
- Non-Core Legal Services - on a quantum meruit basis. (As much as he
deserves; or as much was promised to be paid for the work done.)
Personal Representative(Executor) - LESA Guideline - the beneficiaries must approve the fees and expenses or the Court must order them. There are 3 categories of fees:
1. Fees charged on the gross capital value of the estate;
2. Fees charged on the revenue received by the estate during administration;
3. Care and management fees charged in trust estates.
Capital fees should not exceed 5% of the gross value of the estate;
Revenue fees should not exceed 6% of the revenue receipts;
Unless unusual circumstances warrant a higher fee for either capital fees or revenue fees; fees are not charged on disbursements.
Personal Representative’s Compensation and Duties are set out in the Surrogate Rules, Schedule 1, Part 1 (Page 6.2.2)
Stating: 1(1) Personal representatives may receive fair and reasonable compensation for their responsibility in administering an estate by performing the personal representatives’ duties.
Then going on to: factors to be considered, additional compensation, compensation fixed in the will, shared compensation, pre-taking compensation, lawyer performs personal representatives’ work; schedule on accounting, expenses, and Duties.
Lawyer’s Compensation is set out in the Surrogate Rules, Schedule 1, Part 2 (Page 6.2.6)
Stating the Categories of service, personal representatives’ duties, agreement, lawyer as personal representative, factors to be considered, disbursements, statement of fees and disbursements to be in writing, taxing accounts; Table 1 defines Core Legal Services and Table 2 defines Non-Core Legal Services.