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 Nevada, the compensation of an executor of a will, also known as a personal representative, is governed by Nevada Revised Statutes (NRS). Specifically, NRS 150.060 outlines the compensation for personal representatives. The statute allows for reasonable compensation, which is typically determined by the size and complexity of the estate. The compensation may be specified in the will itself by the testator, or if the will does not mention compensation, the executor is entitled to receive a fee as determined by the court, which is reasonable and commensurate with the services rendered. The court considers factors such as the actual pain and trouble experienced by the executor, the nature of the services, the time spent, and the success of the executor's efforts. Additionally, the statute provides a general guideline for compensation based on the value of the estate, with a percentage scale decreasing as the value of the estate increases. It is important for executors to maintain detailed records of their activities and expenses, as the court may require documentation to support the compensation requested.