When can an executor be reimbursed and/or collect a fee and what is the formula for determining an amount? 15 Answers as of May 19, 2014

Ask a Local Attorney. 100% Anonymous. Free Answers.

Free Case Evaluation by a Local Lawyer: Click here
Edward L. Armstrong, P.C. | Edward L. Armstrong
When the executor can take the commission provided for by law might depend on whether the estate was/is being administered independently or under court supervision (i.e., supervised administration). At any rate the law provides percentages to apply against the value of assets in the estate: 5% on the first $5,000 of value (of assets being administered) 4% on the next $20,000 3% on the next $75,000 2.75% on the next $300,000 2.5% on the next 600,000 2% on everything over $1 Million
Answer Applies to: Missouri
Replied: 5/19/2014
Christine Sabio Socrates Attorney at Law | Christine Socrates
An executor can get reimbursed for any expenses incurred during the administration of an estate. His fee is determined by a formula set by the court and is based on a percentage of the estate, probate and non probate assets.
Answer Applies to: Ohio
Replied: 5/14/2014
Law Ofices of Edwin K. Niles | Edwin K. Niles
An executor can be paid a statutory fee at the end of the probate, as approved by the court. It's a percentage of the value of the estate on a sliding scale. There can also be, in some cases, extraordinary fees, and expenses, all subject to court approval.
Answer Applies to: California
Replied: 4/25/2014
Law Office of Patricia A. Simmons
Law Office of Patricia A. Simmons | Patrica A Simmons
First, the personal representative must be duly appointed by the the court. Second, the personal representative's fee is set by statute. The calculation may be found in the Probate Code. The personal representative, along with the attorney, if there's one for the estate, are paid at the conclusion of the estate. A petition is filed with the court which requests compensation. The court will review the petition to ensure that the fee has been calculated correctly. Contact a probate attorney to discuss in more detail.
Answer Applies to: California
Replied: 4/25/2014
Kirby G. Moss PC | Kirby G. Moss
Typically upon closing out the estate but there is no set formula.
Answer Applies to: Indiana
Replied: 4/25/2014
    Frederick & Frederick PLC | James P Frederick
    It generally happens when the estate is about ready to be closed, but that is not required. There is no formula for calculating the fee. Compensation is required to be "reasonable," but the statute does not define what reasonable is. Generally, courts approve fees that compensate the PR in the same general amounts as they would otherwise receive in their normal job. (In other words, they recognize an "opportunity cost.") Fees tied to the time actually worked are generally approved. Trying to use a percentage or fraction of the estate is generally frowned upon, but may be okay, as long as the number is reasonable.
    Answer Applies to: Michigan
    Replied: 4/25/2014
    Ashcraft & Ashcraft, Ltd.
    Ashcraft & Ashcraft, Ltd. | Randall C. Romei
    If the Will permits, an executor is entitled to a reasonable fee for services rendered for the benefit of the estate. The fee must be reasonable and in keeping with the customary charges in the area. If the estate is supervised the Court must approve the fees before payment. If the estate is unsupervised the executor can make the payment but should seek the approval of the heirs. If an heir objects to the fees the court will determine if they are reasonable.
    Answer Applies to: Illinois
    Replied: 4/25/2014
    Douglas P. Barnes, A Professional Law Corp.
    Douglas P. Barnes, A Professional Law Corp. | Judith N. Douglass
    The Executor of a Probate Estate in California is entitled to statutory compensation, which is as follows: 4% of the first $100k, 3% of the next $100k and 2% on the next $800k. The Executor is also entitled to be reimbursed for expenses paid on behalf of the Estate.
    Answer Applies to: California
    Replied: 4/25/2014
    Law Office of Pamela Braynon | Pamela Y. Braynon
    This can be a long and cumbersome answer. I invite you to look at Florida's probate code 733.617 and Florida Probate Rule 5.355 which explains it all.
    Answer Applies to: Florida
    Replied: 4/25/2014
    Minor, Bandonis and Haggerty, P.C.
    Minor, Bandonis and Haggerty, P.C. | Brian Haggerty
    A personal representative (this answer applies to Oregon) should be reimbursed by the estate for all out-of-pocket expenses, which should not be too large. The compensation of the personal representative is computed per ORS 116.173, although there is provision for addition compensation for extraordinary services to the estate.
    Answer Applies to: Oregon
    Replied: 4/25/2014
    Home Town Law, P.A.
    Home Town Law, P.A. | Sabina Tomshinsky
    Usually the personal representative gets paid when all the estate assets have been collected and the estate is ready to be closed out. However, your probate attorney should be able to provide you with a more specific response.
    Answer Applies to: Florida
    Replied: 4/25/2014
    Law Office Of Victor Waid
    Law Office Of Victor Waid | Victor Waid
    Upon the closing of the estate after distribution per court order; executor fee is set by probate code in California.
    Answer Applies to: California
    Replied: 4/25/2014
    Sebby Law Office
    Sebby Law Office | Jayne Sebby
    An executor must be reimbursed for the actual costs of closing an estate that he or she advances when sufficient estate funds aren't immediately available. This includes any filing and court fees, fees for professionals who assist with the closing such as attorneys and accountants, communication expenses, bond fees if required, costs of delivering bequests such as transporting heirlooms or vehicles, etc. An executor should be reimbursed for his or her personal expenses that are necessary to complete the job such as transportation costs and time spent fulfilling the duties, if the will directs payment to be made or if there are sufficient assets in the estate. Some executors choose not to be paid for personal expenses, especially if the estate is small or the deceased is a family member or close friend. What is permitted is usually a local custom or established by the local probate court.
    Answer Applies to: Nebraska
    Replied: 4/25/2014
    Goldsmith & Guymon
    Goldsmith & Guymon | Dara Goldsmith
    An executor is entitled to a fee pursuant to state law. Nevada has a statute setting forth what the executor may collect for ordinary expenses. The court may also award extraordinary fees. All reasonable expenses should be reimbursed. This information is only intended to give general information in response to an inquiry. It does not establish an attorney client relationship. This response is only based upon the limited facts presented and is merely intended to assist you in determining if you should contact an attorney to provide you with legal advice.
    Answer Applies to: Nevada
    Replied: 4/25/2014
    James Law Group
    James Law Group | Christine James
    At the end of the probate after the court orders the payment and reimbursement. 4% of the first $100,000, 3% of the next $100,000 and 2% of the next $800,000.
    Answer Applies to: California
    Replied: 4/25/2014
Click to View More Answers:
12 3 Free Legal QuestionsConnect with a local attorney