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How an executor makes money

On Behalf of | Nov 25, 2019 | Probate & Estate Planning |

In Georgia, several factors determine whether an executor gets paid and how much work they can do.  An executor may serve without any compensation if the will does not mention anything about his payment. According to the probate laws of Georgia, if the will says anything about the executor’s benefit, then he will receive some compensation for his job. 

There are various ways the compensation method for the executor may appear in the will. It may be through a formula, a specific amount of compensation or a means to calculate the payment. In this scenario, the executor receives the compensation just as the will dictates. 

If the will says that the executor will not receive compensation, then according to the Georgia probate law, the executor will not receive anything at all. If an executor is getting compensation, there is a specific payment scheme in the law that executors use to charge their clients. 

The executor has the right to get 2.5 percent of the money flowing into the estate.  Another 2.5 percent of all the money goes out of the estate. This amount is separate from the value of the real estate, bonds, or stock. The executor may as well receive an additional 10 percent of any profit made by the estate. 

The Georgia probate court allows the executioner to petition for more compensation, allowing them to receive up to 3 percent of the non –money property value that goes through the beneficiaries. The beneficiaries may decide on the exact amount the executor receives. The executor may seek the counsel of an attorney to determine the exact compensation. 


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