0
What else can I help you with?
When does an executor of a will get paid by the estate if they have to pay outstanding bills left by decedant?
The executor should never pay the bills themselves. They should have the estate do it. Yes, with proper receipts, there should be no problem with getting the money back.
Does the executor work for the beneficiary?
No, the executor works for the estate. The estate will pay the executor a reasonable fee. The beneficiary has limited direction that they can give the executor.
Does the executor of an estate pay attorney fees out of their compensation?
They do not pay the estate attorney's fees, the estate does. If they hire their own attorney, yes, they have to pay them.
Does an executor have to pay old medical bills in TX?
The executor's job is to settle the estate. That includes resolving all of the estate's bills, from the estate, not their own pocket.
Who pays taxes on estate that is controlled by the executor?
The executor of an estate uses the assets of the estate to pay any taxes or other debts owed by that estate. If it should turn out that the taxes owed exceed the value of the estate, then the executor pays as much as the estate consists of, after which there is no longer an estate.
Can executor move into estate without your consent and not pay rent?
The executor can move into the estate. However, they do need to pay rent or show the court how they are compensating the estate, for instance, free rent instead of collecting a fee.
Is a executor of a will responsible for all the bills of a estate?
The executor is not personnally responsible. The estate is responsible to pay off the debts. If the assets are not sufficient to pay off the estates, they do their best and get the court to agree.
What if you are the executor of the will m i responsible for any debts if the home was not in my name?
Being the executor does not make you personally responsible. The estate has to pay any debts. If the estate cannot pay them, the debtors do not get paid.
Do heirs have to pay back a loan taken out by the executor?
No. If an Executor takes out a loan it has nothing to do with the estate he is executing.
As an executor of an estate you received money do you pay taxes on it?
The fee paid to the executor is considered taxable income.
Will you need to pay estate taxes?
That will depend on the value of the estate. The executor will have to file a tax return with the IRS for the estate.
Can the executor pay for work needed on properties?
The executor is responsible for the assets of the estate. That would include taking care of the property taxes, upkeep and maintenance. The executor is not personally responsible for the bills, the estate is.
