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 Kentucky, the compensation of an executor of a will, also known as a personal representative, is governed by state law. Kentucky does not have a statutory fee schedule that dictates the exact compensation for executors. Instead, the compensation is usually determined by the terms of the will itself, if the decedent specified an amount. If the will does not specify compensation, or if the will is silent on the matter, the executor is entitled to 'reasonable compensation' for their services. This reasonable compensation is determined by the court based on the complexity of the estate, the time and effort expended by the executor, and other relevant factors. Kentucky Revised Statutes (KRS) Chapter 395 provides the general provisions regarding the settlement of estates, and while it does not provide a specific formula for executor compensation, it does outline the duties and powers of executors, which can impact their compensation. Executors in Kentucky may also waive their right to compensation. It is advisable for executors to keep detailed records of their time and expenses, as these records can be important when the court considers what is reasonable compensation.