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 Virginia, the compensation of an executor of a will, also known as a personal representative, is generally governed by the provisions of the will itself or, if the will does not specify, by state statute. Virginia law allows for reasonable compensation for the executor, which is typically determined based on the size and complexity of the estate. The Code of Virginia does not provide a specific formula for calculating executor compensation, but it does state that the compensation should be 'reasonable under the circumstances' (Virginia Code § 64.2-1208). If the will specifies the compensation, the executor is entitled to the amount designated therein. If the will is silent on the matter, or if the executor waives the specified compensation, the court may determine a reasonable fee. The compensation is subject to review by the Commissioner of Accounts, an officer appointed by the circuit court, who oversees the proper administration of estates. Executors may also be reimbursed for any necessary expenses incurred in the administration of the estate.