Executor Compensation and Fees (WV)
If the will does not specify how executor compensation should be calculated, WV estates must follow state compensation rules (see WV calculator below).
In West Virginia, the estate executor is known as a "personal representative".
If compensation is not specified in the will, West Virginia sets the executor fee as a percentage of the estate's assets (other than real estate) and any income generated by the estate:
- 5.0% for the first $100K
- 4.0% for the next $300K
- 3.0% for the next $400K
- 2.0% for everything more
So, for example, a West Virginia estate with qualified assets of $50K would yield $2.5K in executor fees, and one worth $600K would generate $23K in executor fees.
If there is real property (i.e., land) involved, the executor may charge a fee equal to 1% of the value of the property, but if it is sold, then instead the gross proceeds are added to the scale above.
Assets the executor does not administer, such as 401Ks with named beneficiaries, but which are includable for calculating federal estate tax, are excluded from the above calculations, and instead generate a 1% fee.
WV Compensation Calculator
EstateExec provides the following executor compensation estimator for WV 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.