How is an executor compensated?

A person’s estate can only be distributed after a person dies. The executor is the person responsible for settling the estate. This includes collecting the deceased person’s assets, paying debts, and distributing any remaining assets to the people entitled to them. In Washington, an executor is typically compensated for these services, unless the executor is a family member or is otherwise mentioned in the will, instructing that the executor not receive any compensation. When compensation is requested, a judge must decide whether the compensation is fair. Generally, executors are paid reasonable compensation, which is calculated based on the volume and complexity of work that the executor must do. An executor may also receive reimbursements for costs and expenses associated with settling the estate. To determine the amount of compensation, the judge will consider the size of the estate, the executor’s skills, the time spent on the executor’s duties, the legal fees incurred, and the executor’s cost of living. Upon the completion of the executor’s services, the court must approve the executor’s compensation. Once approved, the executor may take their compensation from the funds of the estate. Executor compensation in Washington can vary, but it is typically between 4 and 8 percent of the value of the estate at the time of settlement. An executor must use their own money when settling the estate, but can later be reimbursed for any reasonable expenses incurred.

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