Friday, August 5, 2011

In Rhode Island, how much does more than one executor of a estate get paid.?

There are no specific state guidelines for paying executors in Rhode Island. The statute says that an executor may be paid a "reasonable amount." Generally, I understand that between 2 and 5 per cent is common compensation for an executor plus out out pocket expenses. Now my question is do more than one administrator split that 2 to 5 percent spread or are they paid as though there was one executor thus doubling that 2 to 5 percent spread? Any know from research or actual experience?

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