The first step to figuring out a Georgia executor's compensation is to read the will. The Broel Law Group, a law firm based in Marietta, Ga., says on its website that if the will specifies an amount -- or says that the executor serves without compensation -- that settles the question. If the will doesn't say anything about fees, or it defaults to Georgia state law, the state's formula comes into play.
The Georgia Formula
Some states set fees based on the net value of the estate. Georgia's formula is more complex. As of publication, once the state appoints the executor -- also called a personal representative -- she gets 2.5 percent of any money the estate receives, such as book royalties. If the estate has to pay debts or bills, the executor gets 2.5 percent of the money paid out. If the executor has the estate loan out money, she gets 10 percent of the interest. Finally, she gets 3 percent of the value any real or personal property -- land, stocks and bonds, etc. -- that she transfers to the heirs.
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Writer Bio
A graduate of Oberlin College, Fraser Sherman began writing in 1981. Since then he's researched and written newspaper and magazine stories on city government, court cases, business, real estate and finance, the uses of new technologies and film history. Sherman has worked for more than a decade as a newspaper reporter, and his magazine articles have been published in "Newsweek," "Air & Space," "Backpacker" and "Boys' Life." Sherman is also the author of three film reference books, with a fourth currently under way.
