court must determine pr managed the estate in compliance with the code. pc § 241 ec § 352.002

Personal Representative

Compensation

Prerequisite to Compensation

Court must determine PR managed the estate in compliance with the Code. PC § 241 EC § 352.002

Default Compensation

Inclusions:

5% of sums received in cash▪ Sold assets to raise money to pay debts

plus

5% of sums paid out in cash▪ Paid debts


Exclusions:

Cash on hand Payments to heirs and beneficiaries Collecting bank accounts, CDs, etc. Collecting life insurance proceeds


Limitation:

Total compensation cannot exceed 5% of the gross fair market value of the estate.


Exceptions (court may grant more than default compensation):▪ PC § 241▪ EC § 352.003

PR managing a business, farm, ranch, or factory.

Statutory compensation determined to be “unreasonably low.”


Exceptions (court may grant less compensation):▪ PC § 241▪ EC § 352.004

PR failed to manage estate prudently.

PR removed from office.

Amount set by will

Testator can determine amount: No compensation A flat fee A “reasonable” fee A method for determining the fee

Cases

Stanley v. Henderson (p. 167)

Lee v. Lee (p. 169)

Brown v. Traylor (p. 178)

PR and Att0rney as same person

court must determine pr managed the estate in compliance with the code. pc § 241 ec § 352.002

Documents