1. 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:

   1. a. For the first one thousand dollars, six percent.
   2. b. For the overplus between one and five thousand dollars, four percent.
   3. c. For all sums over five thousand dollars, two percent.
2. 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.

For reduction of fees when agents are employed and penalties, see §633.86 and 633.162

[C51, §1429; R60, §2454; C73, §2494; C97, §3415; C24, 27, 31, 35, 39, §12063; C46, 50, 54, 58, 62, §638.23; C66, 71, 73, 75, 77, 79, 81, §633.197] 94 Acts, ch 1153, §8; 2005 Acts, ch 38, §11; 2013 Acts, ch 30, §190