Executor Of Will Compensation
How Much Does an Executor of a Will Get Paid
Executor compensation varies by state and estate complexity. Typically, executors receive 2-5% of the estate's value.
State Guidelines and Laws
Some states set statutory fees, while others allow reasonable compensation. Complex estates may justify higher pay.
- Percentage-based: 2-5% of estate value
- Hourly rates: for time-consuming tasks
Factors Influencing Compensation
Estate size, duties required, and time spent affect payment. Executors can waive fees if they are beneficiaries.
Always document time and expenses. Court approval may be required for compensation.
Understanding fees helps in planning estate administration. Consult a legal professional for specific advice.