Iowa Code 633.197 – Compensation — schedule of fees
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1. Personal representatives shall be allowed such reasonable fees as may be determined by the court for services rendered, but not in excess of the following commissions upon the gross assets of the estate listed in the probate inventory, which shall be received as full compensation for all ordinary services:
a. For the first one thousand dollars, six percent.
b. For the overplus between one and five thousand dollars, four percent.
c. For all sums over five thousand dollars, two percent.
Terms Used In Iowa Code 633.197
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Court: means , when referring to a court of this state, the district court sitting in probate with jurisdiction of conservatorships and guardianships. See Iowa Code 633.701
- Decedent: A deceased person.
- Estate: means the real and personal property of either a decedent or a ward, and may also refer to the real and personal property of a trust described in section 633. See Iowa Code 633.3
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Probate: Proving a will
2. For purposes of this section, the gross assets of the estate shall not include life insurance proceeds, unless payable to the decedent‘s estate.