How does an executor of a trust get paid?

Will named you as executor but living trust for the house has no executor named Am I still the executor?

The living trust has a trustee, not an executor. The will is a separate process and you would be the executor.

What are the responsibilities of an executor of a living trust?

A trust doesn't have an executor. It has a trustee. The trustee manages the trust according to the terms of the trust.

Can the executor of a living trust refuse to pay money to beneficiaries even though all debt has been paid and there is still property to be sold?

A trustee manages the property in the trust. An executor manages the property owned by a decedent at the time of their death. You need to review the trust document to determine what the trustee must do with the trust property now that the settlor has died.

How do you find out who the executor is of a revocable trust is?

A revocable trust has a trustee not an executor. If you want to know something about the trust you would need to ask the trustor. The trustor is the person who created the trust to hold title to their property.

How does an executor of a living trust get paid?

An executor of a living trust, often referred to as a trustee, is typically compensated through a fee outlined in the trust documents. This fee can be a percentage of the trust's assets, an hourly rate, or a flat fee, depending on the trust's terms. If the trust does not specify compensation, the trustee may negotiate payment with the beneficiaries or follow state laws regarding reasonable compensation for trustees. It's important for the trustee to maintain transparency with beneficiaries regarding their fees.

Are you an executor to a will for ever?

Depends on the case. In the irrevocable trust or a trust after the person dies neither are revocable. If the executor doesnt act properly they can be removed by a judge. Once all of the funds are giving out of the will there is no longer a executor.

How does the executor in a living trust remove a family member from property?

A trust doesn't have an executor. A trustee manages a trust according to the provisions set forth in the instrument that created the trust- the Declaration of Trust. You need to review that declaration to determine what the trustee can do and how.

Can an estate executor pay themselves or others?

An executor of a will may be paid for work done on the estate if the will states they are to be paid. Most states will allow expenses to be paid within reason to the executor, but they must show proof.

Does an executor get paid for their time?

Yes. Generally, the fees paid to the executor for handling the estate are set forth in the probate code in each jurisdiction.Yes. Generally, the fees paid to the executor for handling the estate are set forth in the probate code in each jurisdiction.Yes. Generally, the fees paid to the executor for handling the estate are set forth in the probate code in each jurisdiction.Yes. Generally, the fees paid to the executor for handling the estate are set forth in the probate code in each jurisdiction.

Can the executor sell property without all beneficiaries approval in New York state?

No, the executor cannot sell property that is in a trust.First, if the property is owned by a trust then it is not part of the estate and is not under the control of the executor.Second, the property is under the control of the trustee of the trust who must manage the property according to the provisions set forth in the document that created the trust. You need to review that trust document and look for provisions regarding the sale of property.The same person can hold several positions but their position as executor of an estate is separate from their position as the trustee of a trust. As an executor they cannot sell property that was placed in a trust by the decedent.No, the executor cannot sell property that is in a trust. First, if the property is owned by a trust then it is not part of the estate and is not under the control of the executor.Second, the property is under the control of the trustee of the trust who must manage the property according to the provisions set forth in the document that created the trust. You need to review that trust document and look for provisions regarding the sale of property.The same person can hold several positions but their position as executor of an estate is separate from their position as the trustee of a trust. As an executor they cannot sell property that was placed in a trust by the decedent.No, the executor cannot sell property that is in a trust. First, if the property is owned by a trust then it is not part of the estate and is not under the control of the executor.Second, the property is under the control of the trustee of the trust who must manage the property according to the provisions set forth in the document that created the trust. You need to review that trust document and look for provisions regarding the sale of property.The same person can hold several positions but their position as executor of an estate is separate from their position as the trustee of a trust. As an executor they cannot sell property that was placed in a trust by the decedent.No, the executor cannot sell property that is in a trust. First, if the property is owned by a trust then it is not part of the estate and is not under the control of the executor.Second, the property is under the control of the trustee of the trust who must manage the property according to the provisions set forth in the document that created the trust. You need to review that trust document and look for provisions regarding the sale of property.The same person can hold several positions but their position as executor of an estate is separate from their position as the trustee of a trust. As an executor they cannot sell property that was placed in a trust by the decedent.

Does being the daughter as executor of a will allow compensation be paid by estate?

The executor is entitled to compensation as proscribed by the will or the law. The relationship of the executor to the decedent does not matter.

How do you select an executor for a family trust and will?

You select a person that you trust. Often people will make their spouse or sibling an executor. Others prefer to leave it in the hands of a bank or lawyer.