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An estate executor is a person who executes a deceased person's will and disposes off his estate as per the guidelines of the will. He has many duties and Ontario law allows an executor to charge for his services. The amount of fees depends on the magnitude of the estate and extent of duties to be performed by the executor. Generally fee is charged according to the following guidelines. 1. 2.5 percent of the total value of capital receipts of the Estate, 2. 2.5 percent of the total capital disbursements of the Estate, 3. 2.5 percent of the total revenue receipts of the Estate, 4. 2.5 percent of the total of revenue disbursements of the Estate or 5. Annual fee of 2/5 of 1 percent of the average annual market value of the capital of the Estate.

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10y ago

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Is it legal to take executor fees in Wisconsin?

Yes, it is generally legal for executors to take fees in Wisconsin. The law allows executors to be compensated for their time and services in administering an estate. However, the amount of fees must be reasonable and must be approved by the court if there is a dispute.


What document is needed for filing the income from executors fees?

That depends on which country or state that you live in.


What has the author Eric Smith Vance written?

Eric Smith Vance has written: 'The law and practice in Victoria and an examination of the case law of Australia and New Zealand relating to executors commission' -- subject(s): Executors and administrators, Fees


What does the term coindependent executors mean?

co-independent executors


Do the executors of a will have to jointly give permission for the other executors to see the will?

All executors have the right to see the will, they cannot execute it if they do not have access to it.


What is the hourly rate for an executor?

The amount an executor can charge varies from state to state. You need to check the laws in your state. You could try a search for 'executors fees in your state'.


When a proprty is sold do both executors get the money?

Executors do not get the money, it goes to the estate. The executors distribute the estate per the will or laws of intestacy.


What happens if one executor wants to put her children as executors and the othe executor disagrees?

Executors don't appoint executors. The court appoints them.


How do you take your and your husbands name off a will as executors?

My husband and I are executors of a will and want to cancel this.


As an heir and executor of your fathers estate you must pay taxes on fees paid to you What is the tax rate?

Heirs do not pay tax. The decadent's estate pays any applicable tax. Fees paid to executors may be taxable. Check with state and Federal tax codes.


Can there be 2 executors of a will?

Yes, it is possible for a will to have two executors who are responsible for carrying out the wishes outlined in the document.


If 2 executors can 1 carry out tasks without permission from the other?

Generally, if two executors are named in the will and then appointed by the court as co-executors they must act together unless the will provides that either can act alone.