Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
Section 352.002 - Standard Compensation(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(C) paying out cash to an heir or legatee in that person's capacity as an heir or legatee.Added by Acts 2009, 81st Leg., R.S., Ch. 680, Sec. 1, eff. 1/1/2014.