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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 Rhode Island, the compensation of an executor of a will, also known as a personal representative, is governed by state law. The testator may specify in the will the amount of compensation for the executor, or the executor may waive their right to compensation. If the will does not specify the compensation, or if the executor does not waive their fee, Rhode Island law provides a formula for calculating reasonable compensation. This is typically based on the size and complexity of the estate. The compensation is considered an administrative expense and is paid from the assets of the estate. Rhode Island's specific statutes regarding executor compensation can be found in Title 33 of the Rhode Island General Laws, which covers Probate practice and procedure. An attorney can provide guidance on the current rates and rules for executor compensation in Rhode Island.

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Wills, trusts, and estates

executor fee

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Wills, trusts, and estates

executor fee

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