Being a personal representative can be a significant responsibility, usually based on the estate’s details and size. Their duties can be extensive and tedious, including organizing assets, sorting out the decedent’s financial requirements and keeping heirs updated on the process. Excessive time and effort often go into administering an estate, possibly making the personal representative eligible for compensation after completing their responsibilities.
Aside from the representative, other professionals involved in the case can receive payment for their services, such as appraisers, accountants, and attorneys. Still, the compensation amount for the representative can vary depending on the circumstances, including the following:
- The decedent predetermined the compensation amount, which is in their will.
- The personal representative entered an agreement with the decedent before their death.
- The personal representative entered an agreement with involved parties likely to experience the impact of providing compensation, such as beneficiaries.
- The court determines the amount based on state law as long as no beneficiaries object.
Additionally, a judge can help determine how much the representative’s fee will be. There is no standard amount applicable for all cases. Usually, the fee can increase or decrease, depending on the situation or whether it is within the will.
Navigating probate appropriately
The personal representative can also seek legal counsel during probate. This process can be overwhelming and confusing, especially when the case involves different scenarios with legal implications. Experienced advice can help navigate these situations, allowing the representative to proceed without going against any policies or rights.
Legal guidance can also help address disputes that may arise so the beneficiaries, heirs and other surviving relatives can focus on grieving the loss instead of arguing over the estate.
