Detailed Answer
Under Wyoming law, a personal representative (executor or administrator) may receive reasonable compensation and statutory commissions on estate assets and sale proceeds. Courts calculate commissions under the schedule set forth in Wyoming Statute § 2-1-114 (2021).¹ Commissions generally apply to the fair market value of all assets, including personal property, real estate and the gross proceeds from any post-appointment sales.
Statutory Commission Schedule
Wyoming Statute § 2-1-114 provides a tiered commission on net estate value as follows²:
- 4% on the first $10,000
- 3% on the next $15,000
- 2% on the next $175,000
- 1% on the next $815,000
- 0.5% on the balance
For sale proceeds, a commission applies to the gross sale price unless the court orders otherwise.³ Courts must approve all commissions, and personal representatives must fully account for receipts, disbursements and distributions.
Procedural Requirements
- File a petition in probate court requesting allowance of commissions. (Wyo. Stat. § 2-1-108⁴)
- Submit a detailed inventory and appraisal of estate assets, including sale documentation for disposed property. (Wyo. Stat. § 2-1-105⁵)
- Serve notice on all interested parties and allow time for objections. (Wyo. Stat. § 2-1-202⁶)
- If objections arise, attend a hearing where the court will review the reasonableness of the requested commission.⁷
Hypothetical Example: Jane Smith is appointed personal representative of an estate with $200,000 in personal property. She sells real estate for $300,000 and seeks commissions. She calculates a commission on $200,000 personal property per the statutory tiers and on the $300,000 real estate sale proceeds unless the court adjusts for extraordinary services.
Helpful Hints
- Maintain accurate records of all estate transactions, appraisals and distributions to support your petition.
- Communicate proactively with beneficiaries to reduce disputes over commissions.
- Review the will carefully—if it waives or caps compensation, the court typically enforces those terms. (Wyo. Stat. § 2-1-114(c))
- If you perform extraordinary or out-of-state duties, you can request additional compensation, subject to court approval.
- Consider consulting a probate attorney or accountant when estate assets include businesses, complex investments or multiple jurisdictions.
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult a qualified attorney for advice tailored to your situation.
References:
- ¹ Wyoming Statute § 2-1-114 (2021): law.justia.com/codes/wyoming/2021/title-2/chapter-1/section-2-1-114/
- ² Ibid.
- ³ Ibid.
- ⁴ Wyoming Statute § 2-1-108 (2021): law.justia.com/codes/wyoming/2021/title-2/chapter-1/section-2-1-108/
- ⁵ Wyoming Statute § 2-1-105 (2021): law.justia.com/codes/wyoming/2021/title-2/chapter-1/section-2-1-105/
- ⁶ Wyoming Statute § 2-1-202 (2021): law.justia.com/codes/wyoming/2021/title-2/chapter-1/section-2-1-202/
- ⁷ Ibid.