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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 Nebraska, the compensation of an executor of a will, also known as a personal representative, is governed by state statutes found in the Nebraska Probate Code. 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 rejects the compensation provided in the will, Nebraska law allows for 'reasonable compensation.' The determination of what constitutes reasonable compensation is not set by a strict formula in Nebraska but is instead based on various factors, including the size and complexity of the estate, the time and effort expended by the executor, and the success of the administration. The court overseeing the probate process has the authority to review and approve the executor's fees, ensuring they are fair and reasonable for the services provided.

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Wills, trusts, and estates

executor fee

Individual & Family Legal Plan

Articles

Nebraska State Code

Nebraska State Code

Wills, trusts, and estates

executor fee

Articles