Texas Estates Code

§ 352.002 — STANDARD COMPENSATION

ES § 352.002Title 2. ESTATES OF DECEDENTS; DURABLE POWERS OF ATTORNEY · Part H. CONTINUATION OF ADMINISTRATION · Ch. 352. COMPENSATION AND EXPENSES OF PERSONAL REPRESENTATIVES AND OTHERS · Art. A. COMPENSATION OF PERSONAL REPRESENTATIVES

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(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

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Legislative history

Added by Acts 2009, 81st Leg., R.S., Ch. 680 (H.B. 2502), Sec. 1, eff. January 1, 2014.