On Behalf of a Deceased Individual
Guaranty will serve in the following capacities:
- Named Executor of an Estate;
- Agreed Upon Executor of an Estate;
- Agent for an Executor of an Estate;
- Appointed Administrator of an Estate.
All such capacities may be initial or successor and temporary or permanent.
Compensation and Fees
If no fee or compensation provisions are contained in the will or are not otherwise agreed upon between parties, compensation for serving as executor or administrator is controlled by Texas Estate Code §352 in effect at the time of death of the individual.
The Texas statute allows a commission of 5%, subject to additions and subtractions of some assets, debts, and income. Additionally, the nature and complexity of the estate will be considered in determining fair compensation for services rendered by the Executor or Administrator during the time of service.
Guaranty will serve in a shared capacity. Assets will be held at Guaranty and shared capacity will not reduce fees for serving.
Special administration services are performed at professional time rates plus out-of-pocket expenses.
- Minimum Fee: $10,000
Guardian of an Estate
Guaranty will serve as Guardian of an Estate for either a minor or an incapacitated individual under the following circumstances:
- Appointed with Full or Limited Authority;
- Designated by Will or Written Declaration;
Compensation for serving as guardian of an estate is controlled by Texas Estate Code §1155 in effect at the time of appointment or acceptance.
The Texas statute allows reasonable compensation upon application and accounting. Generally, the fee is 5% of the gross estate and 5% of all money paid out to the estate but may be reviewed and modified based upon the actual services rendered.
Est Admin Svcs Sched appd 122816
Investment products are not FDIC insured, are not bank guaranteed, and may lose value.