Section 29A-3-719 - Compensation of personal representative(a) Personal representatives, attorneys, accountants, appraisers, and other agents of the personal representative are entitled to reasonable compensation for services. Reasonable compensation may include compensation for the services of the agents or employees of the person seeking compensation and may also include reimbursement for costs advanced. A determination of reasonable compensation shall be based on the following factors:(1) The time and labor involved;(2) The novelty and difficulty of the questions involved, and the skill requisite to perform the service properly;(3) The likelihood that the acceptance of the particular employment will preclude other employment by the person;(4) The fee customarily charged in the locality for similar services;(5) The nature and value of the assets of the estate, the amount of income earned by the estate, and the responsibilities and potential liabilities assumed by the person;(6) The time limitations imposed by the circumstances; and(7) The experience, reputation, diligence, and ability of the person performing the services.(b) If a will provides for compensation of the personal representative and there is no contract with the decedent regarding compensation, the personal representative may renounce the provision before qualifying and be entitled to reasonable compensation. A personal representative also may renounce the right to all or any part of the compensation. A renunciation of fee may be filed with the court.(c) When compensation is not provided by will, or in an intestate proceeding, the personal representative may be allowed commissions upon the amount of personal property accounted for by the personal representative, excluding personal property not ranked as assets, as follows: (1) On the first one thousand dollars at the rate of five percent;(2) On all sums in excess of one thousand dollars and not exceeding five thousand dollars at the rate of four percent;(3) On all sums in excess of five thousand dollars at the rate of two and one-half percent. Upon all real property accounted for by the personal representative, the personal representative shall receive a just and reasonable compensation for the services performed to be fixed by the court. All real estate sold by the personal representative as part of the proceedings in probate shall be considered as personal property.
SL 1994, ch 232, § 3-719; SL 1995, ch 167, § 123; SL 1996, ch 187.