Do executors get paid? скачать в хорошем качестве

Do executors get paid?

Do executors get paid? In this video, we explain how executor compensation works, why the rules vary, and how to handle payment in a way that reduces conflict. Here are three things to know about whether executors get paid. Let’s start with the first thing to know. Many executors are entitled to compensation, but the rules vary. Some wills specify compensation, and some states have default rules or allow reasonable fees. Next, here’s the second point to remember. Family executors often choose not to take a fee, but they should understand the option. Even if you waive compensation, keep track of out of pocket expenses, because reimbursement is commonly appropriate. And finally, here’s the third point that is often overlooked. Payment should be handled transparently. Executor fees are often disclosed to beneficiaries and documented, and in some cases they can affect taxes or require court approval. Before we go, one final tip to keep in mind. The cleanest approach is to document everything and follow the will and local rules, even when everyone is acting in good faith. For more information about state specific rules that may apply in estate administration, visit BuriedInWork.com and open the State Specific Resources Information Hub. If you're considering an estate and end-of-life organization system, Buried in Work’s CLEAR Kit is trusted by professionals and families nationwide.