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Texas Estates Code - EST § 352.002. Standard Compensation

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) An executor, administrator, or temporary administrator a court finds to have taken care of and managed an estate in compliance with the standards of this title is entitled to receive a five percent commission on all amounts that the executor or administrator actually receives or pays out in cash in the administration of the estate.

(b) The commission described by Subsection (a):

(1) may not exceed, in the aggregate, more than five percent of the gross fair market value of the estate subject to administration; and

(2) is not allowed for:

(A) receiving funds belonging to the testator or intestate that were, at the time of the testator's or intestate's death, either on hand or held for the testator or intestate in a financial institution or a brokerage firm, including cash or a cash equivalent held in a checking account, savings account, certificate of deposit, or money market account;

(B) collecting the proceeds of a life insurance policy; or

(C) paying out cash to an heir or legatee in that person's capacity as an heir or legatee.

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Cite this article: FindLaw.com - Texas Estates Code - EST § 352.002. Standard Compensation - last updated January 01, 2024 | https://codes.findlaw.com/tx/estates-code/est-sect-352-002/

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