If the executor has to resign part way through the settlement process, are they still eligible for compensation?

July 11th, 2018

Absolutely. The executor is eligible to have all of their out of pocket expenses covered as well as their time. The fee for the executor’s time may be pro-rated in terms of how much of the job they were able to complete against the fees prescribed in the Will or in legislative guidelines.

 

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What if the executor fees prescribed in the Will are inadequate given the amount of work involved?

July 11th, 2018

If the executor can tell, in advance, that a) the estate is going to involve an inordinate amount of work, b) the executor fees listed in the Will cannot possibly compensate them for their time, and c) they have concerns that the beneficiaries will not be willing to vary the fees, they have two choices: […]

What do professional executors, including lawyers and trust companies, charge to settle estates?

July 11th, 2018

Legal fees vary, depending on the method of billing the lawyer uses; some bill by the hour and others bill in a lump sum. Today, experienced estate lawyers charge $500/hour. They may use a paralegal for a lot of the administrative work and bill their time at a lower rate.

The fees of trust companies vary, […]

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