Does the Executor of a Will Get Paid?

Duties

Much of the administrative tasks and duties of probate are an executor's responsibility. The executor reports to the probate court, which provides assistance as necessary. An executor must notify heirs and creditors, taken an inventory of the deceased assets and find an appraisal for them, pay debts, distribute assets, and handle the finances of the estate.

State laws generally require an executor during probate. You are free to appoint someone in your will as executor. If that person is unable or unwilling to act, the court will accept petitions from close friends and family to appoint a representative, or, absent any suitable candidates, will appoint a court officer to act on your estate's behalf. Choosing an executor is an important part of creating your estate plan. The person you choose must be responsible, trustworthy and honest. Much of the duties involve handling money and finances. The executor must also be able to comply with the relevant probate procedures.

State laws entitle executors to reasonable compensation for their services. What constitutes "reasonable" varies among states. Probate laws often prescribe payment based on a percentage of the amount of the estate. For example, in Orgeon, executors working with estates worth more than $10,000 but less than $50,000 may receive 3 percent of the value of the estate, but not to exceed $50,000. Professional or court-appointed executors typically expect compensation.

A close family friend or relative appointed in your will to be your personal representative may waive the fees and do the work as executor for free. According to Nolo, a legal information website, many people are simply honored to act in that capacity and do not expect payment. Before choosing an executor, check with your state laws regarding who may act in that capacity. If you are unsure as to how to proceed, seek legal advice.