H. B. 3270
(By Delegates Webster and Amores)
[Introduced February 23, 2007; referred to the
Committee on the Judiciary.]
A BILL to amend the Code of West Virginia, 1931, as amended, by
adding thereto a new section, designated §44-4-12a, relating
to the compensation and expenses of fiduciaries.
Be it enacted by the Legislature of West Virginia
That the Code of West Virginia, 1931, as amended, be amended
by adding thereto a new section, designated §44-4-12a, to read as
follows:
ARTICLE 4. ACCOUNTING BY FIDUCIARIES.
§44-4-12a. Compensation and expenses of personal representatives.
(a) Personal representatives, as defined in section one,
article one, chapter forty-two of this code, shall be allowed any
reasonable expenses incurred by the personal representative as such
and commissions upon the amount of all the personal estate which is
subject to administration, including the income from the personal
estate, that is received and accounted for by them and upon the proceeds of real estate that is sold, as follows:
(1) For the first one hundred thousand dollars, at the rate of
five percent;
(2) All above one hundred thousand dollars and not exceeding
four hundred thousand dollars, at the rate of four percent;
(3) All above four hundred thousand dollars and not exceeding
eight hundred thousand dollars, at the rate of three per cent; and
(4) All above eight hundred thousand dollars, at the rate of
two percent.
(b) Personal representatives also shall be allowed a
commission of one percent on the value of real estate that is not
sold. Personal representatives also shall be allowed a commission
of one percent on all property that is not subject to
administration and that is includable for purposes of computing the
federal estate tax. Notwithstanding the foregoing, no commission
shall be allowed on joint and survivorship property, whether real
or personal.
(c) The basis of valuation for the allowance of such
commissions on real estate sold shall be the gross proceeds of
sale, and for all other property the fair market value of the other
property as of the date of death of the decedent. The commissions
allowed to personal representatives in this section shall be
received in full compensation for all of their ordinary services.
If more that one personal representative serves, the total compensation as set for herein shall be apportioned between them as
agreed upon by the personal representatives, or the in the absence
of an agreement between the personal representatives, in proportion
to the services performed by them.
(d) The commission set forth herein may be denied or reduced
by the county commission upon a determination that the personal
representative has not faithfully discharged the personal
representative's duties. The commission set forth herein may be
increased by the county commission upon a determination that the
personal representative has performed extraordinary services in
discharging the personal representative's duties.
(e)
Where the
personal representative
of a
n
estate is a lawyer
who renders professional services, compensation for such
professional services in addition to a commission
shall not be
allowed
.
(f) Notwithstanding the foregoing, a testator may deviate from
the commissions allowed herein by express language in the
testator's last will and testament.
NOTE: The purpose of this bill is to provide a statutory fee
schedule for personal representatives of decedent's estates in West
Virginia.
Strike-throughs indicate language that would be stricken from
the present law, and underscoring indicates new language that would
be added.