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Ely
Ely, Counselor at Law
Category: Estate Law
Satisfied Customers: 99983
Experience:  Fully licensed attorney in Texas in private practice.
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What is the executor compensation in the state of georgia

Customer Question

what is the executor compensation in the state of georgia
Submitted: 1 year ago.
Category: Estate Law
Expert:  Ely replied 1 year ago.
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First, one looks at the WILL, if there is one. If there is a Will and it contains instructions on what the Executor should receive for compensation, then it controls.
If there is no Will, then the default statutory law applies, which is:
Georgia Code - Wills, Trusts & Estates - Title 53, Section 53-6-60
(b) If the personal representative´s compensation is not specified in the will or any separate written agreement, the personal representative for services rendered shall be entitled to compensation equal to:
(1) Two and one-half percent commission on all sums of money received by the personal representative on account of the estate, except on money loaned by and repaid to the personal representative, and 2 1/2 percent commission on all sums paid out by the personal representative, either for debts, legacies, or distributive shares;
(2) Ten percent commission on the amount of interest made if, during the course of administration, the personal representative shall receive interest on money loaned by the personal representative in that capacity and shall include the same on the return to the probate court so as to become chargeable therewith as a part of the corpus of the estate;

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