How Virginia personal representative compensation actually works
Virginia's statute is genuinely vague on purpose — and the real decision-maker is a locally appointed officer, not a single statewide judge or formula.
1. The statute itself: just "reasonable compensation"
Va. Code § 64.2-1208(A): "In stating and settling the account, the commissioner of accounts shall allow the fiduciary any reasonable expenses incurred by him and, except in cases in which it is otherwise provided, a reasonable compensation in the form of a commission on receipts or otherwise." This wording has stayed largely unchanged for over 150 years, and Virginia's own courts have repeatedly said no hard-and-fast rule can be laid down — each estate is decided on its own facts.
2. The Commissioner of Accounts, not a single statewide rule
Every Virginia circuit court appoints a Commissioner of Accounts, who reviews and audits fiduciary accountings, including the personal representative's own compensation. In 2005, the Judicial Council of Virginia approved "Guidelines for Fiduciary Compensation" that most circuits now use, but the guidelines themselves say they are "not intended as a substitute for the analysis the commissioner must do to determine the statutory 'reasonable compensation' in each case." They're a starting point, not the law itself.
3. The commonly published guideline figures
Locally published Commissioner guidelines (e.g., Fairfax, Henrico): commonly around 5% of the first $400,000 of probate assets under the fiduciary's actual control (calculated on inventory value, including amended inventories), 4% of the next $300,000, 3% of the next $300,000, and 2% above $1,000,000 — plus roughly 5% of income receipts realized during each accounting period, excluding capital gains. Estates above $10,000,000 are typically handled by direct agreement with the Commissioner. These are guidelines, explicitly not statutory law.
4. What professional fees do and don't reduce
Commissioner guidance: if the fiduciary hires an attorney or accountant to perform duties the fiduciary should have done personally, those fees are generally deducted from the fiduciary's own compensation. But reasonable fees for tax work, litigation, or other legal services necessary for the estate's orderly administration are not deducted — they're allowed in addition to the fiduciary's fee. Investment advisor fees, if reasonable, also generally aren't deducted from the fiduciary's own compensation.
5. Forfeiture for late filing
Va. Code § 64.2-1217: fiduciary compensation may be forfeited if a proper account isn't filed on time, unless good cause is shown for the delay — a real, concrete consequence tied directly to timely paperwork, not just a general reasonableness inquiry.
| Tier | Commonly published guideline rate |
|---|---|
| First $400,000 (principal) | 5% |
| Next $300,000 | 4% |
| Next $300,000 | 3% |
| Above $1,000,000 | 2% |
| Income receipts (excl. capital gains) | ~5% |