Detailed Answer: Can a Personal Representative Seek a Commission on Estate Assets and Sale Proceeds in Nevada?

Under Nevada law, a personal representative may request statutory commissions and court-approved fees for administering an estate. Key statutes provide the framework:

• Statutory compensation: NRS 147.030 outlines the right to a commission and fees for general services. See NRS 147.030.
• Commissions on property: NRS 147.040 allows commissions on property sold and property distributed in kind. See NRS 147.040.
• Real property sale commission: Under NRS 147.047, a personal representative may claim a commission equal to 5% of the gross sales price of real property sold. See NRS 147.047.
• Petition to fix compensation: File a petition under NRS 147.090 and provide notice as required by NRS 147.095. See NRS 147.090 and NRS 147.095.

Before deducting commissions from estate assets or sale proceeds, obtain court approval. The probate court will review your petition and determine whether the requested commissions are reasonable based on factors such as estate size, complexity, services performed and time expended. The court may approve, adjust or deny your request.

How to Petition for a Commission

1. Prepare and file a Petition to Fix Compensation (NRS 147.090).
2. Serve notice on all heirs, beneficiaries and interested parties as required by NRS 147.095.
3. Attend the court hearing. Present documentation of services performed, sale proceeds and estate transactions.
4. Obtain a court order approving the commission amount.

Hypothetical Example

Mary Smith serves as personal representative of an estate valued at $500,000. She sells the decedent’s home for $300,000 and personal property for $50,000 during administration.

• Real property commission: 5% of $300,000 = $15,000 (under NRS 147.047).
• Personal property commission: court-approved 3% of $50,000 = $1,500 (reasonable under NRS 147.040).
• Total commissions: $16,500, subject to court approval before distribution.

After the probate court signs an order, Mary may deduct $16,500 from the estate’s assets.

Disclaimer

This article provides general information and does not constitute legal advice. Always consult a qualified attorney to address your specific circumstances.

Helpful Hints

• File a petition and obtain court approval before paying yourself any commission.
• Keep detailed records of all estate transactions and services you perform.
• Serve all required notices on heirs and beneficiaries promptly.
• Review NRS Chapter 147 for full details on commissions and fees.
• Consider consulting a probate attorney if disputes arise over compensation.