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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.
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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
In the state of NJ if there are 5 executors do they split the executor fee or is each paid a separate fee?
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.
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.
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.
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.
Is it possible for there to be two executors of a will?
Yes, it is possible for there to be two executors of a will. They can work together to carry out the wishes outlined in the will and manage the estate.
What executors are allowed to probate a will in the state of Texas?
The executors that are appointed by the court. The court will issue a letter of authority to the appropriate executor(s).
Can you have both your children as executors?
Yes you certainly can and they can also be your trustees too!! Some people also have more than 2 executors!!
