Choosing the Right Executor: Lawyer vs. Family vs. Trust Company
What Happened
Estate planning attorneys in Arkansas are emphasizing the critical importance of executor selection in estate plans. McClelland Law Firm recently published comprehensive guidance on the three main types of executors: family members, attorneys, and corporate trust companies. The guidance highlights that while most people focus on who inherits their property, choosing the right executor may be equally important for successful estate administration.
The analysis breaks down the distinct advantages and drawbacks of each executor type. Family members offer personal investment and cost savings but may lack legal expertise. Attorney executors bring professional knowledge and neutrality but typically charge 2%Ark. Code § 28-48-108(d)(2) (6-tier statutory schedule on total market value of real + personal property; court may adjust if excessive or insufficient)Verified Jul 14, 2026View source to 3%Ark. Code § 28-48-108(d)(2) (6-tier statutory schedule on total market value of real + personal property; court may adjust if excessive or insufficient)Verified Jul 14, 2026View source of estate value. Corporate executors provide continuity and specialized systems but often require minimum estate sizes of $500,000 to $1 million.
The guidance also addresses potential conflicts of interest when the attorney who drafted estate planning documents also serves as executor. This arrangement remains recognized in Arkansas and most states, but transparency about fee structures becomes essential for families making informed decisions.
What It Means
Arkansas families face unique considerations when selecting executors due to the state's specific probate requirements and fee structures. Under Arkansas law, attorney fees follow a statutory schedule: statutory (set by law)Ark. Code § 28-48-108(d)(2) (6-tier statutory schedule on total market value of real + personal property; court may adjust if excessive or insufficient)Verified Jul 14, 2026View source ranging from 5% on the first $5,000 to 2% on amounts above $1 million. For a $500,000 estate, statutory attorney fees alone could reach approximately $16,250, not including separate executor compensation.
The state's probate timeline of 9 monthsArk. Code §§ 28-48-108(a) (executor compensation — just and reasonableVerified Jul 14, 2026View source to 12 monthsArk. Code §§ 28-48-108(a) (executor compensation — just and reasonableVerified Jul 14, 2026View source creates extended responsibilities for executors. Arkansas does not automatically require surety bonds for executors, giving families more flexibility in executor selection. This flexibility allows families to focus on competence and availability rather than bonding requirements.
Arkansas estates under $100,000Ark. Code § 28-41-101Verified Jul 14, 2026View source may qualify for the state's small estate affidavit procedure after 45 daysArk. Code § 28-41-101Verified Jul 14, 2026View source. However, this threshold includes real property, meaning many homeowners cannot use this simplified process. Executors must understand that the 6 monthsArk. Code § 28-50-101 (6 months from first publication of notice to creditors; § 28-50-101(h): 2 years from first publication for known or reasonably ascertainable creditors even without actual notice; § 28-50-101(d): 5-year absolute bar from death if no letters issued and no notice published)Verified Jul 14, 2026View source creditor claim period and court filing fees of $165Ark. Code Ann. §§ 21-6-403(b)(1), 21-6-416(b)(2)Verified Jul 14, 2026View source apply regardless of estate size. These requirements underscore why professional expertise often proves valuable, even for seemingly straightforward estates.
Cost Analysis for Arkansas Families
The financial impact of executor choice varies significantly in Arkansas. A family member serving as executor might charge 2%Ark. Code § 28-48-108(a) (just and reasonable; not to exceed 10% first $1K + 5% next $4K + 3% balance of personal property passing through PR's hands)Verified Jul 14, 2026View source to 3%Ark. Code § 28-48-108(a) (just and reasonable; not to exceed 10% first $1K + 5% next $4K + 3% balance of personal property passing through PR's hands)Verified Jul 14, 2026View source of the estate value, plus separate attorney fees when legal guidance becomes necessary. Attorney executors typically combine both roles, potentially streamlining costs but creating higher overall fees. Corporate executors add annual management fees that can compound over time, particularly when trusts extend beyond the initial probate period.
For estates approaching or exceeding the federal exemption of $15,000,00026 USC 2001(c), 2010; P.L. 119-21 §70106Verified Jul 13, 2026View source, professional administration becomes increasingly valuable. Arkansas has no state estate or inheritance tax, but complex federal requirements may justify higher executor fees through tax savings and compliance expertise. Families must weigh immediate costs against potential long-term benefits, including reduced family conflict and professional accountability.
Context from SimplyTrust
SimplyTrust's approach addresses executor selection during the trust creation process, allowing families to name successor trustees who assume similar responsibilities without court supervision. This structure eliminates many traditional executor duties while maintaining professional administration options. The platform's tools help families evaluate potential trustees based on their specific circumstances, including geographic location, professional background, and family dynamics.
For Arkansas residents creating estate plans, understanding executor roles helps inform broader planning decisions. Whether choosing traditional wills with court-supervised executors or trust-based plans with private trustees, families benefit from clear communication about expectations, fees, and succession planning. SimplyTrust's educational resources help families navigate these choices while creating comprehensive estate plans that reflect their values and priorities.
Source: Lawyer, Family Member, or Trust Company: Choosing the Right Executor for Your Estate