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Wills, trusts, and estates

executor fee

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 Idaho, the compensation of an executor of a will, also known as a personal representative, is governed by Idaho Code. While the testator can specify the compensation for the executor in the will, if the will does not mention compensation or the executor is not satisfied with the compensation, Idaho law provides that the executor is entitled to reasonable compensation for their services. Idaho Code § 15-3-718 states that unless the will provides otherwise, a personal representative is entitled to reasonable compensation for their services. What is considered 'reasonable' can depend on factors such as the time, effort, difficulty of administration, the skill required, the fiduciary responsibility involved, the size of the estate, and the results achieved. Idaho does not have a specific statutory formula for calculating executor compensation; it is typically determined on a case-by-case basis. If there is a dispute over the compensation, the court may be asked to review and determine the appropriate amount.

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Wills, trusts, and estates

executor fee

As a LegalFix Member You Will Be an Important Client of Local Law Firms

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Idaho State Code

Idaho State Code

Wills, trusts, and estates

executor fee

Articles