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Q&A Series: Does the Executor of an Estate Get Paid for Their Work?




Reader Question:

Does the executor of an estate get paid for their work?

Attorney Thomas B. Burton Response:

A: Yes, in Wisconsin we call the Executor of an Estate under a Will a "Personal Representative" and the Personal Representative is entitled to 2% of the inventory value of the property for which the personal representative is responsible, less any mortgages or liens plus net principal gains for their services, subject to approval by the Court. See Wisconsin Statute 857.05(2) which I have reproduced below: (2) Services. Subject to the approval of the court the personal representative shall be allowed for his or her services commissions computed on the inventory value of the property for which the personal representative is accountable less any mortgages or liens plus net principal gains in the estate proceedings at a rate of 2 percent or a rate that the decedent and the personal representative, or the persons who receive the majority interest in the estate and the personal representative, agree to in writing; and such further sums in cases of unusual difficulty or extraordinary services as the court determines reasonable. If a personal representative is derelict in duty, his or her compensation for services may be reduced or denied. The full text of the statute is available here: https://docs.legis.wisconsin.gov/statutes/statutes/857/05

#Executor #PersonalRepresentative #Estate #Wisconsin #WisconsinLaw #Probate #EstateAdministration #QASeries

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