Is an executor entitled to a fee?

If so, is it a flat rate or a percentage of the estate’s value?

Asked on August 16, 2013 under Estate Planning, Rhode Island

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

Someone who serves as executor of an estate is entitled to get paid for performing their duties. They generally earn a fee of about 2% of the probate value of the estate for their work (this varies some from state to state and the size of the estate; the percentage generally decreases as the size of the estate increases).

Further, executors are reimbursed for all legitimate out-of-pocket expenses incurred in the process of management and distribution of the estate. Additional fees may be allowed by the court in certain circumstances.

Note: If the executor mismanages the estate, derelict in performing their duties or engages in some sort of malfeasance, the court may reduce or deny compensation. Additionally. the executor also may be held personally liable for their negligence and/or misconduct.


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