12 Oct HOW MUCH CAN AN EXECUTOR BE PAID?
A common question of executors is how much they are entitled to for serving as an executor (someone who is responsible for gathering or collecting the resources belonging to the estate or to which estate is entitled, selling property of the estate, paying all bills, taxes, and expenses of the estate, and then distributing the remainder to the beneficiaries of the estate). Often wills are silent as to the amounts of fees to which the executor is entitled – although it is common to indicate the executor is entitled to “reasonable” fees. The Texas Estates Code indicates the executor is entitled to a five percent commission. However, the executor can’t charge for just going to a financial institution and paying the remainder to the beneficiaries. They are entitled to a fee for collecting debts owed to the estate, selling real estate, and paying debts owed by the estate.
If the will indicates the executor is entitled to a “reasonable” fee, then it will be up to a judge or jury to determine what is reasonable.
As a result, some simply say what the executor would be entitled (if anything) or mention a certain percentage of the estate.