Payment for an executor.
I understand that each state has differnet laws pertaining to payment for an executor. How is the executor fee determined? Is there a set fee for the service or is there an hourly rate billable to the estate?
1 Answer from Attorneys
Re: Payment for an executor.
RI does allow an Executor to charge a fee for their services, as long as it is "reasonable."
See RI General Laws § 33-14-8 "Compensation of executors and administrators.
Executors and administrators shall, also, be allowed in their accounts such compensation for their services as the probate court shall consider just."
The language of the statute indicates that each Probate Court has the discretion to determine what is "reasonable" under the facts and circumstances of the situation.
Note that probate in Rhode Island is a responsibility of the municipality in which the decedent resided at the time of their death. Therefore, there are 39 Probate Courts in Rhode Island.
Feel free to contact me if I can be of further assistance.