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If the executor is a relative are they entitled to the executor fee?
The executor is entitled to a fee for their services. Their relationship is not a deciding factor. In many states the fee is set by law.
What are Connecticut's executor fees?
Most states have executor fees of 2-5%. Connecticut law does not state these fees, and only states what is reasonable compensation.
What are the requirements to Bond as an Executor?
It depends on the state. Not all states require an executor to post a bond and bond amounts vary by states. In any case, the bond is meant to serve as protection against fraud or embezzlement by an executor.
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.
Can a grandchild file for executor of a grandparents will?
In most states, any person over the age of 18 who hasn’t been convicted of a felony can be named the executor of a will.
Can an executor sell a house in pa without all the beneficaries approving if the will states the executor has the right to sell any and all property but doesn't mention the approval of all?
The executor is responsible for executing the will. The approval of the beneficiaries is not a requirement.
What is legal age to be an executor of an estate in New York State?
In New York State, the legal age to be an executor of an estate is 18 years old. Any adult over the age of 18 can serve as an executor to manage and distribute the assets of an estate according to the deceased's wishes.
What are Executor fees in Massachusetts?
In Massachusetts, the executor fee will vary based on who provides the services. Massachusetts is one of the only states that does not legally set executer fees at a fixed percentage.
Can you hire an attorney to challenge an Executor's decision regarding the estate?
In the United States you can if the executor is not performing the functions of an executor properly. An executor can be sued to either remove him as executor, to surcharge him for losses he may have caused to the estate or to force him to do what he is supposed to, like transferring assets. If an executor causes monetary losses to the estate, he can be sued to make him reimburse the estate for the losses either from his own pocket or from his statutory commissions. All states in the US have statutes that govern the duties of executors and spell out the remedies beneficiaries and third parties have.
Must will be probated to become an executor?
In the United States an executor must be appointed by the court. In Canada an Executor can be assigned through the will by the deceased. The executor must prepare all the documents and perform all the due diligence prior to the estate being granted probate by the courts. The executor is the designated person who handles all the affairs of the deceased and is the liaison person between the beneficiaries and the lawyer.
How do you relinquish rights as an executor?
If I own an equal amt.of property as the executor of the estate and he is taking things what are my rights? He will not allow me into the house without him, but he is going in and removing items when I am not there?
Should the will be read in a church by a deacon of the executor choice?
A will may be read in church or not. That is up to the executor and the church officials. The will does not become official in the United States until it is read in probate court.
