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Can the executor of a will receive compensation for being executor and beneficiary?
Wiki User
∙ 11y ago
Unless specified otherwise in the will, an executor is entitled to compensation for their work. Anything they inherit is a separate accounting.
Wiki User
∙ 12y ago
Wiki User
∙ 11y agoYes, the executor is entitled to compensation. They may also be a beneficiary.
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How do you calculate executors compensation when you are also a beneficiary?
The executor's compensation is set by law. The office of executor is separate from being a beneficiary. Compensation for an executor is not affected by also being a beneficiary.The executor's compensation is set by law. The office of executor is separate from being a beneficiary. Compensation for an executor is not affected by also being a beneficiary.The executor's compensation is set by law. The office of executor is separate from being a beneficiary. Compensation for an executor is not affected by also being a beneficiary.The executor's compensation is set by law. The office of executor is separate from being a beneficiary. Compensation for an executor is not affected by also being a beneficiary.
Does being the daughter as executor of a will allow compensation be paid by estate?
The executor is entitled to compensation as proscribed by the will or the law. The relationship of the executor to the decedent does not matter.
Can an executor keep a death benefit by law without being named as a beneficiary?
The court appointed Executor of a will is entitled to payment or monetary compensation for taking on the task of performing the executor's duties. Generally, there is a statutory rate depending on where you are located. A death benefit that has no named beneficiary would be paid over to the estate. The Executor can pay herself the statutory rate out of the assets of the estate the same as payment of any debt, before any assets can be distributed to the heirs.Apart from statutory compensation that is reported to the court, the Executor is not permitted to simply take any assets and convert them to her own use.
What if a beneficiary of a will dies while the will is being dealt with by the executor?
The beneficiaries' estate will get their share. The executor will continue to process things according to the will.
In UK law can the executor of a will sell the house at a lower price to what the beneficiary would like and could they end up being sued for doing so?
The executor has a duty to the estate. The price must be a fair market price and the beneficiary cannot choose what that is.
Can a beneficiary force the sale of a property when executor years ends if the other beneficiaries disagree?
Type your answer here... Can a beneficiary force executors to wind up an estate, or ask them to buy him out in respect of a property being involved
Do a lawyer or a the executor of the estate contact you regarding being a beneficiary in a will?
That is part of their responsibility, to notify the heirs. They have to show the court they have made very effort to do so.
Does executor get left anything in the will?
That will depend on the will. There is nothing to prevent the executor from being left something, and they can collect a fee from the estate.
What happens to workmen's comp if the employee is discharged from his job?
In the state of Indiana, you still will receive workmans compensation after being terminated from your job. You will receive workmans compensation until the doctor releases you.
Should sibling who is executor and is inheriting estate residual be able to get executor fees from other sibling who is inheriting most of estate in real estate?
Yes. There is a lot of work and responsibility involved in being the executor of an estate. The one sibling/beneficiary who is appointed should not be reqired to work for the other beneficiary for free. In some cases the executor may not charge the statutory fee, however, they should not be expected to work for free. The executor fee should be paid from the estate. If one of two sibling is inheriting real estate then they should make a cash contribution equal to one-half of the executor's fee.
Can an executor deny a beneficiary access to the deceased property?
No they can't. However, if the beneficiary is being unreasonable, then the Executor has the right to ask the beneficiary to deal with him through their lawyer. Answer An executor can deny a beneficiary access to property in an estate. Once again though, you must check the laws of the jurisdiction which govern that estate. Most states have laws that say that an executor is entitled to possession and control of all estate assets during administration. Many also provide that if an executor demands that a beneficiary give back an asset that the beneficiary has taken, the beneficiary must give it back. This is necessary for the orderly administration of every estate. You can imagine the chaos that would ensue if every beneficiary had full access to everything in the estate while administration of the estate is going on. Don't forget that the other parts of settling an estate may involve the sale of some items in order to pay debts owed by the deceased. It is often more easily and efficiently done if you let the executor--named by the deceased--complete the job.
Can the beneficiary's tell the executor how much to sell for in NJ?
Not really. The property has to be sold for fair market value. There is some latitude if the assets exceed the debts of the estate. Or the beneficiary's can agree to a lessor price if it is being sold to another beneficiary. Often siblings will let another sibling buy them out of the property for a lower price.
