As a personal representative, how much am I allowed to get paid for my time?
I'm the executor of my fathers Will, how much am I entitled to get paid for my time? He lived in AZ; I'm in MI. I've had to go to court 3 times as step-siblings are contesting. I do not know if that makes a difference or not.
In AZ, a personal representative is entitled to compensation (A.R.S.§14-3719). However, AZ statutes do not designate percentage fees for your work or say how much a Personal Representative should be paid. You must keep receipts to prove out-of-pocket expenses. In determining whether a fee is reasonable, the following factors will be considered:
a. The time required (as supported by detailed time records), the novelty and difficulty of the issues involved, and the skill required to do the service properly;
b. The likelihood that your acceptance as Personal Representative will preclude other employment;
c. The fee normally charged in the area for similar services;
d. The nature and value of estate assets, the income earned by the estate, and the responsibilities and potential liability assumed by you as Personal Representative;
e. The results obtained for the estate;
f. The time limitations imposed by the circumstances;
g. The experience, reputation, diligence and ability of the person performing the services.
h. The reasonableness of the time spent and service performed under the circumstances; and,
i. Any other relevant factors.