Payment of Compensation to Executors

Generally speaking, the amount of compensation payable to Executors for probating an estate ranges from between 2% to 4% of the value of the estate or, in many cases, is limited to ‘reasonable compensation’. As the amount which an Executor can receive is set out under state law, this amount varies from state to state and also tends to decrease on a percentage basis as the size of the estate increases.

Remember also that as many Executors are often relatives or close friends of the deceased they do not charge for performing their duties as Executor.

 

Executors are generally unable to recover either fees for the provision of their services or reimbursement for out-of-pocket expenses without the prior approval of the court. In circumstances where it materializes that the Executor was incompetent or failed to carry out his or her duties and/or responsibilities as Executor, the court may deny the payment of compensation to the Executor or reduce the amount which ought to be payable to the Executor. 

 

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Executors Guide to Probate

How To Probate An Estate - A Step-By-Step Guide for Executors

 

This book is essential reading for anyone contemplating acting as an executor of someone’s estate! Learn about the various stages of probate and what an executor needs to do at each stage to successfully navigate his way through to closing the estate and distributing the deceased’s assets.

Published December 2010

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Executors Payment of Compensation to Executors

 

 

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