ACCOUNTING, DISTRIBUTION AND CLOSING
Compensation of personal representative
(1)As used in this section, “property subject to the jurisdiction of the court” means:
(a)All property owned by the decedent at the time of death that is subject to administration, including but not limited to amounts recovered on a personal injury claim, as defined in ORS 114.441 (Definitions for ORS 114.441 to 114.462);
(b)All income received during the course of the administration of the estate;
(c)All gains realized on the sale or disposition of assets during the course of the administration of the estate, to the extent that the gain realized on each asset sold or disposed of exceeds the value of the asset as provided in subsection (2) of this section;
(d)All unrealized gains on assets acquired during the course of administration of the estate; and
(e)Proceeds recovered in a wrongful death claim, as defined in ORS 114.441 (Definitions for ORS 114.441 to 114.462), by judgment or settlement.
(2)(a) For purposes of this section, each asset shall be valued at its highest value as shown in the inventory, any amended or supplemental inventory, any interim account or the final account or statement in lieu of the final account filed under ORS 116.083 (Accounting by personal representative), which may be based upon revaluation of the asset to reflect its then current fair market value.
(b)If the highest value of an asset as shown in the inventory, any amended or supplemental inventory, any interim account or the final account or statement in lieu of the final account filed under ORS 116.083 (Accounting by personal representative) was materially misstated at the time of filing of the document, the value of the asset is the highest correctly stated value of the asset as shown in the inventory, any amended or supplemental inventory, any interim account or the final account or statement in lieu of the final account filed under ORS 116.083 (Accounting by personal representative).
(3)Unless the court has granted a request for a different determination of the compensation of the personal representative under ORS 113.038 (Request for different method of compensation of personal representative), upon application to the court a personal representative is entitled to receive compensation for services as provided in this section. If there is more than one personal representative acting concurrently or consecutively, the compensation may not be increased, but may be divided among the personal representatives as they agree or as the court may order. The compensation is a commission upon the whole estate, as follows:
(a)Upon the property subject to the jurisdiction of the court:
(A)Seven percent of any sum not exceeding $1,000.
(B)Four percent of all above $1,000 and not exceeding $10,000.
(C)Three percent of all above $10,000 and not exceeding $50,000.
(D)Two percent of all above $50,000.
(b)One percent of the property, exclusive of life insurance proceeds, not subject to the jurisdiction of the court but reportable for Oregon estate tax or federal estate tax purposes.
(4)In all cases, further compensation as is just and reasonable may be allowed by the court for any extraordinary and unusual services, including services not ordinarily required of a personal representative in the performance of duties as a personal representative.
(5)When a decedent by will has made special provision for the compensation of a personal representative:
(a)The personal representative is not entitled to any other compensation for services unless prior to appointment the personal representative signs and files with the clerk of the court a written renunciation of the compensation provided by the will.
(b)If the assets of the estate are insufficient to pay in full all expenses or claims of the estate, the compensation of the personal representative may not exceed the compensation provided by subsections (3) and (4) of this section. [Formerly 117.680; 2005 c.126 §1; 2011 c.526 §20; 2017 c.169 §36; 2019 c.166 §10]
Notes of Decisions
Proceeds from wrongful death action are part of decedent's "whole estate" amount used to calculate compensation of personal representative. Brown v. Hackney, 228 Or App 441, 208 P3d 988 (2009)