	How to Prepare for the Death of a Loved One
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Does An Executor Get Paid

The simple answer is Yes. the executor of an estate is entitled to reasonable compensation for services rendered to the estate.

Executors generally earn a fee of about 2% of the probate value of the estate for their work in addition to all out-of-pocket expenses in managing and settling the estate. This amount varies some from state to state, and the percentage generally decreases as the size of the estate increases.

Additional fees may be allowed by the court in extraordinary circumstances or cases of unusual difficulty. On the other hand, if the Executor is derelict in duty, or engages in self-dealing, the court may reduce or deny compensation, and the Executor also may be held personally responsible for his or her negligence or misconduct.

If a person is the sole beneficiary of the estate, unless the estate exceeds $2 million, it may not make sense to take any Executor’s fees. The money a beneficiary receives from the estate is income tax free, while Executor’s fees are subject to federal and state income taxes.

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