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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 Texas, the compensation of an executor of a will is governed by the Texas Estates Code. If the will specifies a certain amount of compensation for the executor, that provision will typically be honored. However, if the will does not mention executor compensation, or if the executor declines the compensation provided in the will, the Texas Estates Code provides a default compensation scheme. Under this scheme, an executor is entitled to receive a commission of 5% on all sums they actually receive or pay out in cash in the administration of the estate, with certain exceptions. The commission is not allowed for receiving funds that are held in trust for the testator and are to be delivered in kind, for collecting life insurance proceeds, or for paying out cash to an heir or legatee. The compensation must also be 'just and reasonable' as judged by the court, which means that the executor's commission may be adjusted if the estate is particularly large or if the duties involved were minimal.

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Wills, trusts, and estates

executor fee

Legal Services from Local Law Firm for Less than 99¢ a Day

Articles

Texas State Code

Wills, trusts, and estates

executor fee

Texas State Code

Articles