Settling the Texas estate of a recently deceased person is not an easy task. The executor of a will has the obligation of making sure that all the necessary steps are taken to close the estate correctly and of handling the individual’s final affairs. Even when cases are straightforward, they can take time and effort. In some cases, disputes could take place that make the situation even more difficult.
Due to the difficult nature of the job, most executors are entitled to some kind of compensation for their efforts. The amount of compensation, also known as a fee, can depend on many factors, including whether the deceased indicated a fee amount or specific bequest in the will or if state laws are dictating the amount. Typically, the amount is considered reasonable for the executor’s efforts and may relate to a percentage of the estate or percentage of the transactions made by the executor.
In some cases, the executor may be entitled to an extraordinary fee if his or her efforts went beyond the norm. For instance, a person may be entitled to an additional fee if he or she had to handle litigation on behalf of the estate or oversaw the sale of the deceased’s property. The amount of an extraordinary fee will also depend on the specific details of the situation.
Receiving compensation for the efforts put forth may make the executor of a will feel more as if his or her actions were worthwhile. Of course, executors may also feel this way simply because they are helping put their loved one’s final affairs to rest. Still, understanding executors’ fees and other aspects of probate is important, and having the help of Texas legal professionals may be wise.