Detailed Answer
Under Missouri law, a personal representative may receive compensation for administering an estate through statutory commissions or, in certain cases, reasonable fees approved by the court. Statutory commissions on estate assets and sale proceeds are governed by Missouri’s Probate Code.
Statutory Commissions
Missouri Revised Statutes § 473.503 entitles the personal representative to commissions on all money of the estate paid out or invested. The actual commission rates and schedule appear in RSMo § 473.513. These rates apply to the gross value of estate assets at inventory and to sale proceeds when assets are sold during administration.
Court Approval and Final Accounting
Commissions become part of the final accounting process. Under RSMo § 473.493, the personal representative must file a petition for settlement of the estate, including a detailed accounting. The court reviews that petition, approves distributions, and awards commissions according to the statutes or, if elected, approved reasonable fees.
Electing Reasonable Compensation
If a personal representative believes statutory commissions do not fairly compensate for the time and complexity involved, they may petition the court for reasonable fees under RSMo § 473.513. The court considers factors such as the size of the estate, difficulty of the estate, time expended, and the results achieved when evaluating such a petition.
How Commissions Are Calculated
Commissions are based on the total gross receipts of the estate and not on net profit. Sale proceeds count toward the base for commissions, but you may not collect duplicate commissions. For example, if land valued at inventory is later sold, the sale proceeds simply replace the inventory value for commission purposes—it does not trigger an additional commission on top of the original.
Practical Steps
To secure a commission, the personal representative should:
- File a complete and accurate inventory listing all estate assets.
- Maintain clear records of sales and other transactions.
- Prepare the final accounting petition under RSMo § 473.493.
- If seeking above-statutory fees, file a motion detailing the services rendered and time expended.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a qualified probate attorney in Missouri to discuss your particular situation.
Helpful Hints
- Review RSMo § 473.503–473.513 to understand commission entitlements and schedules.
- Keep detailed time and expense logs if you plan to request reasonable fees above the statutory rate.
- File your inventory promptly to establish the statutory basis for commissions.
- Consult local court rules; some counties require specific forms for petitions and accountings.
- Meet with a probate attorney early to confirm you are following all procedural requirements.