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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 South Dakota, the compensation of an executor of a will, also known as a personal representative, is addressed under state law. While the testator can specify in the will the amount of compensation for the executor, if the will does not mention compensation or the executor is not satisfied with the compensation, South Dakota Codified Laws (SDCL) provide guidance. According to SDCL §29A-3-719, a personal representative is entitled to reasonable compensation for their services. South Dakota law does not prescribe a specific formula for calculating this compensation, but it should be reasonable considering the size of the estate, the complexity of the tasks involved, and the time spent by the executor. If there is a dispute over what constitutes reasonable compensation, the court may be asked to review and determine the appropriate amount. It is also possible for the beneficiaries to agree with the executor on a different amount of compensation.

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Wills, trusts, and estates

executor fee

Individual & Family Legal Plan

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South-Dakota State Code

South-Dakota State Code

Wills, trusts, and estates

executor fee

Articles