Executor Compensation and Fees (NV)
If the will does not specify how executor compensation should be calculated, NV estates must follow state compensation rules (see NV calculator below).
In Nevada, the estate executor is known as a "personal representative".
In cases where the will does not specify compensation amounts, the state of Nevada determines reasonable compensation based on the net value of the estate:
- 4.0% on the first $15K
- 3.0% on the next $85K
- 2.0% on anything more
Funds which pass directly to named beneficiaries, such as life insurance policies or 401Ks, are not included in these calculations.
So, for example, a Nevada estate worth $50K would yield $1,650K in executor fees, and one worth $500K would generate $11,150 in executor fees.
The court may allow a higher amount if needed to make the fee "reasonable". The court may also allow additional compensation for "extraordinary" services, such as:
- Management, sales, or mortgages of real or personal property
- Contested or litigated claims against the estate
- Adjustment and payments of extensive or complicated estate taxes
- Litigation in regard to the property of the estate
- Running a business pursuant to a court order
Note that even if a will specifies the compensation for the executor, the executor may renounce the relevant provision within 60 days of being assigned executor, and be entitled to compensation as per above.
NV Compensation Calculator
EstateExec provides the following executor compensation estimator for NV estates, but please keep in mind that circumstances may vary, and that there may be special situations addressed by local custom or law. By using this estimator, you acknowledge that EstateExec provides any results as informational input only, not as legal advice, and cannot be held responsible for any inaccuracies for, or misunderstandings about, any given estate.
You can use this calculator now, but if you use EstateExec to help you track the settlement process, it will automatically perform the sometimes complex calculations to provide inputs for the fields below (you can create an estate for free).
See also Compensation for general remarks on executor compensation.