(a) A personal representative is entitled to reasonable compensation for services. If a will provides for compensation of the personal representative and there is no contract with the decedent regarding compensation, the personal representative may renounce the provision before qualifying and be entitled to reasonable compensation. A personal representative also may renounce the right to all or any part of the compensation. A written renunciation of fee may be filed with the court.
(b) In determining what is reasonable compensation, the court shall give consideration to the following factors:
(1) the time and labor required;
(2) the complexity and novelty of problems involved; and
(3) the extent of the responsibilities assumed and the results obtained.