Helpful Articles
Is an executor of an estate entitled to compensation?
If you are involved in a probate process and serve as the executor or administrator of an estate you know how time consuming, difficult, and stressful a task it can be for you. Acting as executor/administrator is often a thankless job that can quickly turn contentious depending on the personalities of the heirs. Regardless of the overall situation, according to Illinois law, every executor or administer is entitled to receive a reasonable fee as compensation for their time and services to the estate and the heirs.
The compensation offered is referred to as an executor/administrator’s fee. The amount of the fee largely depends on the circumstances, the work to be done and the going rate in the county where the estate administration is taking place. To determine a fee for a specific estate, the executor/administrator should discuss this issue early in the process with an experienced probate attorney who is local to the county. What is considered a reasonable fee will vary from state to state, county to county and even estate to estate, depending on the complexity of the administration.
Read more at: https://laurenjacksonlaw.com/is-an-executor-of-an-estate-entitled-to-compensation/
