Although many executors of wills manage the administration of the deceased person’s (decedent’s) estate without compensation, a person who makes a will (testator) may provide for compensation of the executor in the will. And many states have laws (statutes) that provide a formula for calculating the compensation of an executor. These laws vary from state to state and are often located in the estates code, probate code, or similarly-named code.

In Arkansas, the compensation of an executor of a will, also known as a personal representative, is governed by state statutes found in the Arkansas Probate Code. While the testator can specify in the will the amount of compensation for the executor, if the will does not address this or if the executor declines the specified compensation, Arkansas law provides a default compensation scheme. According to Arkansas Code Annotated § 28-48-108, the compensation is usually based on a percentage of the value of the estate. The statute allows for 'reasonable compensation' which may consider the size of the estate, the complexity of the tasks involved, and the time spent by the executor. However, the exact percentage or formula is not specified in the statute, leaving it to the discretion of the probate court to determine what is reasonable under the circumstances. If any interested party feels the compensation is too high or too low, they may petition the court to adjust it. It is advisable for executors to keep detailed records of their time and expenses to justify their compensation to the court and interested parties.