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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 Indiana, the compensation of an executor of a will, also known as a personal representative, is governed by state law. Indiana does not have a statutory fee schedule that dictates the exact compensation for executors. Instead, Indiana Code § 29-1-10-13 allows for 'reasonable compensation' to be awarded to the executor for their services. This determination of reasonableness is based on various factors, including the complexity of the estate, the time and labor required, the size of the estate, and the success of the administration. If the will itself specifies a certain amount or formula for compensation, the executor is entitled to that amount unless they renounce the provision in the will. If the will is silent on the matter or the executor renounces the provision, the court will determine the reasonable compensation based on the aforementioned factors. It is also possible for beneficiaries to object to the compensation amount, in which case the court will resolve the dispute.

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Wills, trusts, and estates

executor fee

Individual & Family Legal Plan

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Indiana State Code

Indiana State Code

Wills, trusts, and estates

executor fee

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