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 Connecticut, the compensation of an executor of a will, also known as a personal representative, is governed by state law. While the testator can specify the compensation for the executor in the will, if the will does not mention compensation or the executor declines the compensation provided in the will, Connecticut law provides a statutory fee schedule. According to Connecticut General Statutes Section 45a-177, the compensation is based on a percentage of the estate's value, with the percentage decreasing as the value of the estate increases. The executor is entitled to reasonable compensation for the actual and necessary expenses of administering the estate. The Probate Court also has the authority to allow additional compensation for extraordinary services. It is important for executors to be aware of these provisions to ensure they receive fair compensation for their services.