Expenses of the Estate, Part IV: Fees Received as Personal Representative (Executor) are Taxable!

By Chris Tymchuck
Founding Attorney

A Minnesota Probate Attorney Explains That Fees Received for Acting as a Personal Representative (Executor) Are Taxable

Serving as a personal representative takes a lot of time. As a result, some personal representatives consider charging the estate for their time as permitted under Minnesota law.

As appealing as that can be, the attorney should help the personal representative consider all the consequences of that decision. One consequence that is often overlooked is that fees paid to the personal representative are taxable and must be included in their gross income. As a result, the estate may be required to generate a 1099.

Contact a Minnesota Probate Lawyer to discuss your rights and obligations as executor.

About the Author
As a Minneapolis Estate Planning and Probate attorney I help build and protect families through the adoption, estate planning, and probate processes. I also have experience working with families on issues related to their small businesses. I know how difficult it is to find time to plan for the future and I am here to help walk you through it.