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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 Washington State, the compensation of an executor of a will, also known as a personal representative, is governed by RCW (Revised Code of Washington) 11.48.210. The law allows for reasonable compensation to the executor for their services, which can be determined by what is specified in the will, or, if the will does not mention compensation, by what the court deems reasonable. The factors that may influence the court's decision on what is reasonable include the size of the estate, the complexity of the tasks involved, and the time spent managing the estate affairs. Washington does not have a statutory formula for calculating executor compensation, so it is typically handled on a case-by-case basis. Executors are also entitled to reimbursement for any necessary expenses they incur in the administration of the estate.

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Wills, trusts, and estates

executor fee

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

Articles

Washington State Code

Wills, trusts, and estates

executor fee

Washington State Code

Articles