Legal Question in Wills and Trusts in Colorado

Is there a maximum hourly fee that may be charged by the executor of an estate in the state of Colorado?

Asked on 9/05/16, 9:29 am

1 Answer from Attorneys

Robert Murillo Pivotal Legal Ltd.

There is no statutory maximum. C.R.S. � 15-10-602 provides that �A fiduciary and his or her lawyer are entitled to reasonable compensation for services rendered on behalf of an estate.�

Under C.R.S. � 15-10-603(3), factors to be considered as guides in determining the reasonableness of a fee, both for the personal representative and agents including attorneys, are those of Colo. RPC 1.5.

The personal representative (we don't use the term executor in Colorado) needs to retain counsel on this question and how to account for these hours and the beneficiaries need their own attorney if they think the personal representative is not charging reasonable fees to the estate.

Read more
Answered on 9/06/16, 7:42 am

Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Colorado