Detailed Answer
Under Arkansas law, a personal representative (executor or administrator) may request a commission for estate administration services. Arkansas Code Annotated § 28-40-301 states that a personal representative is entitled to a reasonable commission. If the will specifies a rate, the court generally honors it when it deems the rate reasonable. Without a will provision, the probate court sets a rate not to exceed 5% of the gross value of estate assets.
Arkansas law also sets fixed commissions on asset sales. Under Ark. Code Ann. § 28-40-302, a personal representative may claim 2.5% of the gross sales price on real property and 1.5% of the gross sales price on personal property sold. These statutory rates apply unless the will provides a different rate that the court approves as reasonable.
To secure a commission, file a petition in the probate court handling the estate. Your petition should:
- Describe services performed.
- List estate assets administered or sold.
- State the commission rates claimed.
The court reviews your petition, hears any beneficiary objections, and issues an order approving, reducing, or denying the commission.
Note that personal representative commissions differ from attorney’s fees or broker commissions. The probate court must approve all commissions to protect beneficiary interests.
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult a qualified attorney for guidance on your specific situation.
Helpful Hints
- Check the decedent’s will for any commission provisions before petitioning.
- Maintain detailed records of services and asset values to support your claim.
- Provide notice of your commission request to all heirs and beneficiaries.
- Be prepared for the court to adjust commissions to ensure fairness.
- Keep personal representative commissions separate from third-party fees (e.g., real estate broker).