Do you receive payment for serving as an executor?
Do you receive payment for serving as an executor?
No. Once the court names you as an executor, you are on the hook to provide a free service. There is no fee paid by the estate or by anyone who uses your services.
It's a common belief that an executor of the will is entitled to a fee for his or her work, but this is not always the case. First, let's explore who can serve as an executor in the first place. In most states, anyone who is over the age of 18 and not under legal or mental disability can serve as an executor, so long as they are willing and able to fulfill the responsibilities of the role. The person selected must be free of bias during the administration of estate assets.
In some cases, it might make sense for someone to receive compensation for serving in this role. If a close family member is charged with handling the estate of their deceased spouse or parent, financial support from their loved ones could help make up for time spent away from work and other obligations. If a person has a business that could be negatively impacted by their death, such as in the case of a sole proprietorship or partnership, it may be appropriate for them to receive compensation for serving as executor.
If you have any questions or need a Probate Lawyer, please call this law firm for a free consultation.
Ascent Law LLC
8833 S Redwood Road Suite C
West Jordan UT 84088
(801) 676-5506
