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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.
What else can I help you with?
Can the executor of a will receive compensation for being executor and beneficiary?
Unless specified otherwise in the will, an executor is entitled to compensation for their work. Anything they inherit is a separate accounting.
Can the executive to will benefit from the will?
Yes, the executive of the will can be a beneficiary. They are also entitled to compensation for their work.
Can you have both your children as executors?
Yes you certainly can and they can also be your trustees too!! Some people also have more than 2 executors!!
Can an executor also be a beneficiary in a will?
Yes, an executor can also be a beneficiary in a will.
Can executor also be a beneficiary from will?
Yes. An executor may also be a beneficiary.
Can an executor also be named as a beneficiary in a will?
Yes, an executor can also be named as a beneficiary in a will.
Can executors use the money from the deceased bank account for personal use?
No! The executor of a will is responsible to safe guard the assets of the estate. They are also entitled to compensation for their services. They must give a full accounting of the estate to the probate court before it can be closed out.
The beneficiary died after the policy holder who is also deceased Who is the beneficary spouse or children from previous marriage?
When the policy holder dies, the money goes to the beneficiary. If the beneficiary then dies, THEIR beneficiary then gets the money.
Do executors determine the percentage they are paid for their duties or is there a set legal percent. Also does it have to be approved by all the heirs of the estate?
How an executor is compensated specifically would depend upon the state. In California, for example, executors are paid according to a schedule in the statute. In fact, under that schedule, executors may receive payment for their services based upon the same percentage of the gross estate, as would the attorney representing the estate (barring extraordinary services of legal counsel). In California, the heirs would not have a veto over compensation directly, but could attack the manner in which an estate is handled (therefore attacking compensation indirectly). An executor could be surcharged by the court if he or she is found to have breached fiduciary duties to the estate. However, the actual method could vary from state to state.
What is a deceased beneficiary?
A 'deceased beneficiary' is the beneficiary of a life insurance policy or a 'payable on death' bank account who predeceased the insured or the account owner. A 'deceased beneficiary' could also be a beneficiary named in a will who predeceased the testator or who died during the probate of the estate.
Can you name someone older than you as your beneficiary on your life insurance policy?
Yes. You should also name a contingent beneficiary in case the primary beneficiary predeceases you.
What is the adjective form for beneficiary?
The word beneficiary is a noun but is also used as an adjective. Examples: Noun: You are listed as the beneficiary on your Aunt Alice's life insurance. Adjective: The beneficiary result of saving your money is that you can afford that vacation.
