Executors are entitled to be paid for the work that they do in administering an estate.
Generally, an executor is entitled to:
- 2.5% of the value of the assets of the estate gathered in
- 2.5% of the value of the estate assets distributed
- 2/5 of 1% of the average value of the estate over the period of time, if the estate is invested for a period time
The amount of the executor’s compensation may be adjusted up or down based upon a number of factors. These factors include:
- the value of the estate
- the complexity of the estate
- the time spent by the executor in the discharge of their duties
- the skill displayed by the executor in the administration of the estate
- the degree of care exercised by the executor
- the results of the administration and any investments made by the executor