A reasonable fee an executor can charge for doing all the work (and there can be a lot of it) in executing a will. This fee will be on top of any expenses and will come out of the estate before any inheritance payouts. Heirs should be able to see what the expenses and commission are, should they wish to do so - it is the duty of the executor to keep detailed records/accounts.
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
co-independent executors
All executors have the right to see the will, they cannot execute it if they do not have access to it.
In New Jersey, 1% of the estate is added to the usual percentages for one executor for each additional executor. They split the total commission equally unless there is an agreement among them to split it in some other proportion. In an estate of about $100,000, the usual commission is 5% for one executor. If there are two executors, the commission would be 6%, with each entitled to 3% unless they agree to a different split. This answer is for informational purposes only and not to be taken as legal advice.
Executors do not get the money, it goes to the estate. The executors distribute the estate per the will or laws of intestacy.
Executors don't appoint executors. The court appoints them.
My husband and I are executors of a will and want to cancel this.
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.
Shackleton Hallett has written: 'Executors and trustees' -- subject(s): Trusts and trustees, Executors and administrators
The executors that are appointed by the court. The court will issue a letter of authority to the appropriate executor(s).
Yes you certainly can and they can also be your trustees too!! Some people also have more than 2 executors!!
If you mean executors, the answer is not necessarily.