What is the executor fee in Mississippi?

Mississippi allows executors to receive "reasonable compensation" as determined by the court (Miss. Code § 91-7-299 (such sum as the court deems proper; no statutory percentage)). Courts consider the size and complexity of the estate, the time spent, and the executor's skill and experience. Typical fees range from 2% to 4% of estate value.

What does an executor do in Mississippi?

An executor in Mississippi is responsible for filing the will with the probate court, inventorying assets, notifying creditors, paying debts and taxes, and distributing remaining assets to beneficiaries. The process typically takes 6-12 months for simple estates and 12-18 months on average (Miss. Code Ann. § 91-7-322 (small estate affidavit, $75K per S.B. 2850 eff. 7/1/2020), § 91-5-35 (muniment of title), § 91-7-145 (notice to creditors; 3-week publication), § 91-7-151 (creditor claims, 90 days), § 81-5-63 (bank deposit affidavit, $12,500), § 91-7-299 (executor compensation; such sum as the court deems proper), § 91-7-281 (attorney fees allowable), § 91-7-41 (oath and bond of executor), § 91-7-45 (when bond not required), § 91-7-67 (oath and bond of administrator; chancellor may waive or reduce), § 91-7-93 (inventory within 90 days of letters; PR states market value), § 91-7-109 (PR MAY employ an appraiser), § 9-5-141 (chancery clerk may admit wills in common form and grant letters), § 25-7-9(2) (chancery clerk filing fees)). The 3-month creditor claim period sets a minimum timeline.

How do executor fees compare to attorney fees in Mississippi?

Executor fees and attorney fees are separate costs in Mississippi probate. Attorney fees are based on reasonable compensation (Miss. Code § 91-7-281 (attorney fees allowable; reasonable); see also § 91-7-299). Executor compensation is calculated separately from attorney fees. Both fees are paid from the estate before distribution to beneficiaries.

How Much Does an Executor Get Paid in Mississippi?

Calculate how much an executor (personal representative) can charge for administering an estate. Fees vary by state law.

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Estate Value

Total value of estate assets before debts. Executor fees are calculated on gross value.

Calculate executor compensation

Select your state and enter the estate value to see what an executor can charge.

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Executor fees (also called personal representative compensation) are calculated on gross estate value. This calculator provides educational estimates only and does not constitute legal or financial advice. Executors may waive their fee. Family members serving as executor often do so without compensation. Consult a licensed attorney for guidance specific to your situation.

Frequently Asked Questions

Mississippi allows executors to receive "reasonable compensation" as determined by the court. Courts consider the size and complexity of the estate, the time spent, and the executor's skill and experience. Typical fees range from 2% to 4% of estate value.

Yes. Executors in Mississippi can waive their fee entirely or accept a reduced amount. Family members serving as executor often waive compensation, particularly when they are also beneficiaries of the estate. Waiving the fee reduces the overall cost of probate and increases the amount available for distribution to beneficiaries.

Mississippi requires executors to post a surety bond. The bond requirement can be waived in the will or by court order. The typical annual bond premium is approximately 0.5% of the estate value. The bond protects beneficiaries against executor misconduct or mismanagement.

An executor in Mississippi is responsible for filing the will with the probate court, inventorying assets, notifying creditors, paying debts and taxes, and distributing remaining assets to beneficiaries. The process typically takes 6-12 months for simple estates and 12-18 months on average. The 3-month creditor claim period sets a minimum timeline. The Mississippi estate settlement plan outlines each step.

Executor fees and attorney fees are separate costs in Mississippi probate. Attorney fees are based on reasonable compensation. Executor compensation is calculated separately from attorney fees. Both fees are paid from the estate before distribution to beneficiaries. To estimate the attorney fee, use the Mississippi probate attorney fee calculator.

Total probate costs in Mississippi include executor fees, attorney fees, court filing fees, publication costs, and potentially bond premiums. Executor compensation is one component of the overall expense. On a $500,000 estate, the total runs about $27,684 — roughly 6% of estate value — depending on complexity. Use the Mississippi probate calculator for a complete cost estimate.

Executor Fees in Mississippi

Executor compensation in Mississippi is based on reasonable compensation, ranging from 2% to 4% of estate value. Unlike statutory-fee states, executors and beneficiaries have flexibility to negotiate. Use the Mississippi probate calculator to see how executor fees fit into total probate costs.

Mississippi bond requirement: Yes. The bond is waivable (Yes), often through a provision in the will. The typical bond premium is 0.5% of estate value annually. Bond costs are an additional probate expense beyond executor compensation.

Beyond executor compensation, Mississippi probate involves attorney fees (reasonable compensation), court filing fees, and publication costs. The executor is responsible for managing these expenses. See the estate settlement plan for a step-by-step guide to the Mississippi probate process.

Simple estates in Mississippi typically close in 6 months to 12 months. Executor compensation is usually paid at the close of the estate, though interim fees may be requested for longer administrations.