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PROBATE COURT OF GREENE COUNTY, OHIO THOMAS M. O DIAM, JUDGE ESTATE OF, DECEASED CASE NO. STATUTORY FIDUCIARY FEE COMPUTATION R.C. 2113.35 The following computation shows the permissible statutory

How to fill out statutory fiduciary fee computation

How to fill out statutory fiduciary fee computation:

1. Begin by gathering all necessary financial information related to the estate or trust. This includes records of all assets, such as real estate, investments, bank accounts, and personal belongings.
2. Calculate the total value of the estate or trust by adding up the values of all the assets. This will serve as the base amount for determining the fiduciary fees.
3. Consult the applicable laws and regulations in your jurisdiction to determine the statutory fee rate. Different jurisdictions may have different rules regarding fiduciary fees, so it is important to ensure compliance with local regulations.
4. Multiply the total value of the estate or trust by the statutory fee rate to calculate the fiduciary fee. For example, if the estate is worth $1,000,000 and the statutory fee rate is 1%, the fiduciary fee would be $10,000.
5. Consider any specific circumstances or factors that may warrant adjustments to the fiduciary fee. Some jurisdictions allow for adjustments based on the complexity or size of the estate or trust, the amount of work required, or other relevant factors.
6. Document the fiduciary fee computation in the appropriate forms or documents as required by your jurisdiction. This may include completing specific fiduciary fee calculation forms or including the computation in the accounting or financial reports for the estate or trust.

Who needs statutory fiduciary fee computation?

1. Executors or administrators of estates may need to perform a statutory fiduciary fee computation to determine the appropriate compensation for their services. This ensures that they are being compensated fairly and in accordance with the laws governing fiduciary fees.
2. Trustees of trusts may also need to calculate statutory fiduciary fees to determine their compensation for managing the trust and carrying out their fiduciary duties. This helps establish a fair and transparent fee structure in line with legal requirements.
3. Attorneys or legal professionals involved in estate or trust administration may also be involved in the statutory fiduciary fee computation process. They may provide guidance or assistance to executors, administrators, or trustees in determining the appropriate fees and ensuring compliance with applicable laws and regulations.

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What is statutory fiduciary fee computation?

Statutory fiduciary fee computation is the process of calculating the fees that a fiduciary is entitled to receive based on statutory guidelines.

Who is required to file statutory fiduciary fee computation?

Fiduciaries who are responsible for managing assets on behalf of another person or entity are required to file statutory fiduciary fee computation.

How to fill out statutory fiduciary fee computation?

To fill out statutory fiduciary fee computation, the fiduciary must gather information on the assets under management and apply the relevant statutory fee guidelines.

What is the purpose of statutory fiduciary fee computation?

The purpose of statutory fiduciary fee computation is to ensure that fiduciaries are compensated fairly for their services in managing assets.

What information must be reported on statutory fiduciary fee computation?

Statutory fiduciary fee computation must include details of the assets under management, the applicable fee schedule, and calculations for determining the total fees.