House File 168 - Introduced



                                       HOUSE FILE       
                                       BY  JOCHUM


    Passed House, Date               Passed Senate, Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to statutory fees allowed for a personal
  2    representative or an attorney for the personal representative
  3    for services rendered for an estate in probate.
  4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  5 TLSB 1683HH 82
  6 rh/gg/14

PAG LIN



  1  1    Section 1.  Section 633.197, Code 2007, is amended to read
  1  2 as follows:
  1  3    633.197  COMPENSATION.
  1  4    1.  Personal representatives shall be allowed such
  1  5 reasonable fees as may be determined by the court for services
  1  6 rendered, but not in excess of the.  The following commissions
  1  7 fees upon the gross assets of the estate listed in the probate
  1  8 inventory, which shall be received as full compensation for
  1  9 all ordinary services:
  1 10    a.  For the first one thousand dollars, six percent;.
  1 11    b.  For the overplus between one and five thousand dollars,
  1 12 four percent;.
  1 13    c.  For all sums over five thousand dollars, two percent.
  1 14    2.  In addition to the fees specified in subsection 1, the
  1 15 court may, upon the consent of all interested persons or upon
  1 16 notice and hearing, award such additional fees as the court
  1 17 finds fair and reasonable under the circumstances.
  1 18    3.  For purposes of this section, the gross assets of the
  1 19 estate shall not include life insurance proceeds, unless
  1 20 payable to the decedent's estate.
  1 21    Sec. 2.  Section 633.198, Code 2007, is amended to read as
  1 22 follows:
  1 23    633.198  ATTORNEY FEE.
  1 24    There Fees permitted for personal representatives pursuant
  1 25 to section 633.197 shall also be allowed and taxed as part of
  1 26 the costs of administration of estates as an attorney's fee
  1 27 for the personal representative's attorney, such reasonable
  1 28 fee.  Additional fees may be allowed and taxed as may be
  1 29 determined by the court finds fair and reasonable, for
  1 30 services rendered, but not in excess of in addition to the
  1 31 schedule of fees herein provided permitted for personal
  1 32 representatives pursuant to section 633.197.
  1 33    Sec. 3.  Section 635.8, subsection 4, Code 2007, is amended
  1 34 to read as follows:
  1 35    4.  The closing statement shall include a statement as to
  2  1 the amount of fees paid for services rendered by the executor
  2  2 or administrator and the executor's or administrator's
  2  3 attorney in administration of the estate.  The fees for the
  2  4 executor or administrator and the executor's or
  2  5 administrator's attorney shall not be in excess of the fees
  2  6 permitted by section 633.197.
  2  7                           EXPLANATION
  2  8    This bill relates to the maximum statutory fees allowed for
  2  9 a personal representative (also known as an executor or
  2 10 administrator) or an attorney for the personal representative
  2 11 for services rendered for commissions upon the gross assets of
  2 12 the estate listed in the probate inventory in a probate
  2 13 proceeding.
  2 14    Current law provides that the maximum fee allowed for the
  2 15 personal representative as well as an attorney for the
  2 16 personal representative shall not exceed certain percentages
  2 17 of the gross assets of the estate listed in the probate
  2 18 inventory.  The bill provides that the court may, upon the
  2 19 consent of all interested persons or upon notice and hearing,
  2 20 award additional fees to both the personal representative and
  2 21 the attorney for the personal representative as the court
  2 22 finds fair and reasonable under the circumstances.
  2 23 LSB 1683HH 82
  2 24 rh:rj/gg/14