Quick answer: Virginia sets no statutory percentage. Va. Code § 64.2-1208 entitles a fiduciary to "reasonable compensation in the form of a commission on receipts or otherwise," reviewed by a Commissioner of Accounts appointed for each circuit court. Most circuits apply a locally published guideline — commonly around 5% of the first $400,000, 4% of the next $300,000, 3% of the next $300,000, and 2% above $1 million, plus roughly 5% of income receipts. On a $700,000 estate, that guideline works out to $32,000. Get an illustrative estimate with the Virginia executor fee calculator.
A statute that's stayed vague for 150 years
Va. Code § 64.2-1208(A): "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 language has been "basically unchanged for over 150 years," and Virginia's courts have repeatedly said no hard-and-fast rule can be laid down — each estate is decided on its own facts.
The Commissioner of Accounts: a genuinely distinctive institution
Unlike most states, where a probate judge directly rules on compensation disputes, Virginia routes every fiduciary's accounting through a court-appointed Commissioner of Accounts for that circuit. The Commissioner audits the accounting and has "the ultimate responsibility to determine the reasonableness of fiduciary compensation." In 2005, the Judicial Council of Virginia approved statewide "Guidelines for Fiduciary Compensation," now used by most circuits — but the guidelines themselves say plainly they are "not intended as a substitute for the analysis the commissioner must do to determine the statutory 'reasonable compensation' in each case." They are not law.
The commonly published guideline numbers
Locally published Commissioner guidelines: commonly 5% of the first $400,000 of probate assets under the fiduciary's actual control (on inventory value, including amended inventories), 4% of the next $300,000, 3% of the next $300,000, 2% above $1,000,000 — plus roughly 5% of income receipts realized each accounting period, excluding capital gains. Estates over $10,000,000 are typically handled by direct agreement with the Commissioner rather than by formula.
Institutional fiduciaries get a special protection
§ 64.2-1208(B): where a will or trust sets an institutional fiduciary's (like a bank or trust company) compensation by reference to its own published fee schedule, the Commissioner cannot reduce that compensation below the scheduled amount — unless there's sufficient proof the testator was incompetent when the instrument was executed, or the compensation is excessive compared to what institutional fiduciaries generally charge in similar situations.
Professional fees: some deducted, some not
Commissioner guidance: if the fiduciary hires an attorney or accountant to do work the fiduciary should have personally performed, those fees are generally deducted from the fiduciary's own compensation. Reasonable fees for tax work, litigation, or other legal services genuinely necessary for the estate's administration are not deducted — they're allowed on top of the fiduciary's fee. Investment advisor fees, if reasonable, generally aren't deducted either.
Worked examples
| Principal value | Guideline estimate |
|---|
| $400,000 | $20,000 |
| $700,000 | $32,000 |
| $1,000,000 | $41,000 |
Each figure computed tier by tier from the commonly published guideline schedule and independently verified against an outside worked example. Model your own estate, including income receipts, in the calculator.
Facing probate in Virginia?A local probate attorney can review your estate — many offer a free consultation.
Talk to a Virginia attorneyEstimate for general guidance only, not legal advice. Based on Va. Code ยง 64.2-1208 and commonly published Commissioner of Accounts guidelines drawn from the Judicial Council of Virginia's Guidelines for Fiduciary Compensation. These guidelines are not binding law and vary by circuit. Verify with your circuit's Commissioner of Accounts or a licensed Virginia attorney.