How Much Does a Personal Representative Get Paid?
If you’ve been appointed to serve as the Personal Representative, also called the Administrator or Executor or Executrix, of an estate, then in most cases you’ll be entitled to get paid for the services you provide on behalf of the estate. How much you’ll receive and when you’ll receive it depends on many factors.Did the decedent leave a valid Last Will and Testament?If the decedent died leaving a valid Last Will and Testament, then the Last Will must be carefully reviewed to look for any guidance as to what the Personal Representative should be paid. Some people choose to limit the fees to a specific dollar amount, while others opt for allowing the payment of reasonable fees based upon applicable state law. Still others leave their Personal Representative a specific bequest instead of allowing them to collect a fee, which provides an income tax benefit for the Personal Representative since a bequest is nontaxable but fees are taxed as ordinary income. If the decedent died without leav
