How much can an executor charge in New Mexico?

New Mexico allows executors to receive "reasonable compensation" as determined by the court (NMSA § 45-3-719 (reasonable compensation; no statutory percentage); § 45-3-721 (court review of reasonableness)). Courts consider the size and complexity of the estate, the time spent, and the executor's skill and experience. On a $500,000 estate, the states that do set a statutory schedule pay 2.23% to 3.82% — a useful reference point where New Mexico gives none.

What are the duties of an executor in New Mexico?

An executor in New Mexico 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 4-6 months for simple estates and 6-12 months on average (Official NMSA 1978 text, Chapter 45 (Uniform Probate Code), New Mexico Compilation Commission via NMOneSource, fetched 2026-07-14: § 45-1-101 (UPC short title); §§ 45-3-301, 45-3-302, 45-3-303, 45-3-306, 45-3-307 (informal probate and informal appointment by the probate or district court, no hearing — § 45-1-307, the registrar/probate-court-powers section, was repealed by Laws 2023, ch. 44, § 16); §§ 45-3-603, 45-3-605 (no bond in informal proceedings; will may relieve bond; bond on demand by an interested person over $7,500); § 45-3-704 (PR proceeds without adjudication, order or direction of the district court unless supervised); §§ 45-3-706, 45-3-707 (PR-prepared inventory within three months; appraisers permissive — no probate referee); §§ 45-3-715(A)(21), 45-3-720, 45-3-721 (employment of attorneys, estate-litigation fees, court review of the reasonableness of compensation — no statutory percentage); § 45-3-719 (PR entitled to reasonable compensation); § 45-3-801 (four months from first publication, or sixty days from mailed notice, whichever is later; repealed and reenacted by Laws 2016, ch. 69, § 715); § 45-3-803 (claims barred at the earlier of one year after death or the § 45-3-801 periods); § 45-3-1201 (small estate affidavit — $50,000 on the entire estate less liens and encumbrances, thirty days, may not perfect title to real estate; History ends at Laws 2011, ch. 124, § 50, eff. 1/1/2012); § 45-3-1205 (surviving-spouse homestead affidavit — six months, $500,000 assessed value). Enacted-act cross-checks at nmlegis.gov: Laws 2011, ch. 124 (SB 146) and Laws 2016, ch. 69 (SB 155). Corroborated by NM Supreme Court approved forms 4B-302 / 4B-304 (informal probate application and order) and 4B-501 (notice to creditors — four months from first publication or sixty days from mailing, whichever is later), nmcourts.gov. Court fees: NMSA § 34-7-14 ($30 probate court filing fee per case); § 34-6-40(A) ($117 district court civil docketing fee) plus § 34-6-45(A) ($15 ADR fee) = the $132 published district court civil filing fee.). The 4-month creditor claim period sets a minimum timeline.

How do executor fees compare to attorney fees in New Mexico?

Executor fees and attorney fees are separate costs in New Mexico probate. Attorney fees are based on reasonable compensation (NMSA § 45-3-715(A)(21) (PR may employ attorneys to advise or assist in administration); § 45-3-721 (court may review the reasonableness of the compensation of any person so employed); § 45-3-720 (expenses in estate litigation, incl. reasonable attorneys fees); no statutory percentage). 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 New Mexico?

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

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State

Estate Value

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

Number of Executors

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

New Mexico 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. On a $500,000 estate, the states that do set a statutory schedule pay 2.23% to 3.82% — a useful reference point where New Mexico gives none.

New Mexico law says only that compensation must be reasonable — it names no percentage, so no exact figure exists to look up. The estimate is built from the 17 states whose legislatures DO set an executor fee schedule: each schedule is applied to an estate of the same size, and the midpoint of those results is shown ($14,050 on a $500,000 estate), with the middle half of them as the range. It is an estimate anchored in what other legislatures decided the same work is worth, not a figure from New Mexico law. The probate court has the final say.

Yes. Executors in New Mexico 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.

New Mexico statute does not address how co-executors share compensation. The court sets one reasonable amount for the estate and allocates it among the executors serving.

An executor in New Mexico 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 4-6 months for simple estates and 6-12 months on average. The 4-month creditor claim period sets a minimum timeline. The New Mexico estate settlement plan outlines each step.

Executor fees and attorney fees are separate costs in New Mexico 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 New Mexico probate attorney fee calculator.

Total probate costs in New Mexico 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 $25,612 — roughly 5% of estate value — depending on complexity. Use the New Mexico probate calculator for a complete cost estimate.

Executor Fees in New Mexico

New Mexico uses a "reasonable compensation" standard for executor fees, typically 2.23% to 3.82% of the estate value. Courts consider estate complexity, time spent, and the executor's responsibilities when evaluating fees. The probate calculator provides a complete cost estimate.

When two or more executors serve together: New Mexico statute does not address how co-executors share compensation. The court sets one reasonable amount for the estate and allocates it among the executors serving. (NMSA 1978 § 45-3-719.)

In addition to executor fees, New Mexico may require a surety bond (No). Bond premiums run approximately 0.5% of the estate value per year. The requirement is waivable (Yes), which reduces overall costs.

Attorney fees are a separate probate cost in New Mexico. The attorney fee type is reasonable compensation. Together, executor and attorney fees account for the largest share of probate expenses. The New Mexico estate settlement plan details each responsibility and the typical timeline.

The probate timeline in New Mexico starts at 4 months for straightforward estates and can extend to 6 months or longer with complications. Executor fees are typically disbursed at final distribution.