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Is the executor of an estate paid on full value of house or what is owed?
Wiki User
∙ 10y ago
The executor's fee is based on the value of the estate. Money owed is not a part of the estate, it is a claim against the estate.
Wiki User
∙ 9y ago
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Does an executor have full control of how the estate is divided if there is no will?
The executor has no control over how the estate is divided. Each state has laws on how the property is divided when there is no will.
What are the duties of the executor of a will in Florida?
Preserve, inventory and value the estate is the first priority. Then execute the will or the intestacy laws with a full reporting to the probate court.
I have a full accounting of the estate funds and the executor took money from the estate how do get this money back from the executor I am a beneficary?
The executor is entitled to be paid for their work. The court has to approve the distribution and the fee they charged, which is often set by law. If the estate has been closed, you can sue the executor if they breached their fiduciary duty.
What powrs do the executor of estate have after the estate goes into probate?
Once they have the letter of authority, they have full control of the estate. They are responsible to the court for the inventory and dispersion of assets.
Can a beneficiaries change locks on the property with out notifying the executor?
The executor can certainly protect the estate from unauthorized access. Changing the locks is one way of insuring that family members don't spirit out things, cause ill feelings and make it difficult.
Can you first accept to become executor of the estate and then resign?
You can resign from the position upon providing a full accounting of your actions in regards to the estate.
Is a executor in NY state responsible for debt if it is more than the assets?
The executor is not personally responsible for the debts. If the estate is not sufficient, the debtors will not get paid in full.
Can executor take full fee on sale of home if it is the only thing in the estate and left to the 3 children?
Yes, the proceeds of the sale must be used to resolve the claims against the estate, including the cost of the executor.
What is Alabama state law on the power of Executor over the beneficiaries?
The executor has no power over the beneficiaries. The executor is responsible to the probate court for the administration of the estate. They must make a full accounting to the court.
Do you have to file for dismissal from being executor?
You have to file with the court that appointed you. And provide a full accounting of the estate to that point.
What is Kentucky's executor fee?
According to the Kentucky Revised Statutes (KRS) 395.150 "The compensation of an executor, administrator or curator, for services as such, shall not exceed five percent (5%) of the value of the personal estate of the decedent, plus five percent (5%) of the income collected by the executor, administrator or curator for the estate." You can view the full text of KRS 395.150 at http://www.lrc.ky.gov/krs/395-00/150.PDF
What should you do if the named executor who is also the main beneficiary is not acting in the best interest of the other heirs?
Either renounce or administer the estate or pay a professional to deal with the matter and the fees would be met from the estate. It is up to the executor to decide. If the exector decides to administer the estate, he or she can be paid a fee (amount varies by state and county). The executor is not a beneficiary and the beneficiary is not the executor. The beneficiaries really have no say as to what the executor should do (i.e., adminster estate, hire attorney to represent estate, or renounce). The executor has a sworn duty to administer the estate in accordance with the deceased's will and the laws of the state and county of probate.
