When someone passes away, their estate needs to be managed and settled. That’s where the executor comes in. This person is responsible for collecting the deceased’s assets, paying off any debts, and then distributing the remaining assets to the beneficiaries.
But how much does an executor of an estate get paid for all this work? The compensation usually comes from the estate itself, but the exact amount can vary significantly.
Several factors influence executor compensation, including state laws, the will’s instructions, and the complexity of the work involved. Let’s take a closer look.