Are executors entitled to expenses?

As long as the expense can be justified as a legitimate cost related to their role and receipts are recorded and kept as part of the estate accounts, an executor’s costs can be reimbursed from the estate.

Who is the executor of my mother’s estate?

Ask a lawyer – it’s free! Currently, as long as the property was your mother’s, her estate owns the property, not you. As executor, you are the one with the authority to make all of the decisions with regard to the property, but you do owe a fiduciary duty to the heirs (presumably, to you and to your sister)to maximize its value.

Why did my sister take over my mother’s estate?

Your sister appears to have overstepped her role as executor, and views it as a free license to do as she pleases, and lord it over the rest of you. She is beholden to the laws of her state where your mother died, and must act accordingly.

What should I do if my sister is the executor?

“To do otherwise puts the executor is a very tenable legal position,” he adds. Unless your sister is cooperative, you will need to seek resolution through the courts and legal system. Speak to your sister and tell her that she cannot simply claim assets as her own because she is executor. Seek legal advice, in the meantime.

Can a sister hold up the distribution of an estate?

It is the law. She can drag her feet but you can force her to settle the estate. No one has the right to hold up the distribution of an estate. What she is trying to do is illegal. As for paying taxes on the inheritance, I don’t know all state laws but in the state I live in there is no tax on inheritance and no federal tax up to 5 million.

What was the executor fee for my brother?

We also discovered from the letter that my brother took an executor fee of $20,000. The entire estate, once settled, will be about $600,000. My question is regarding the executor fee.

Can a sister be the executor of an estate?

In the case of an estate, the primary job of the executor is to identify all of your mother’s assets, ascribe a value to them and carry out the provisions of the will (if there is one or, if not, then the specific state intestacy laws). If there is no will, your sister would be known as an administrator rather than an executor.

How much should I pay my brother to manage my mother’s estate?

Your brother has managed your mother’s estate for two years and — given the time and stress involved in managing a person’s estate — particularly when family is involved, $20,000 is probably not unreasonable. It’s a thankless job, except for the remuneration.

How does the executor of an estate spend the money?

The executor may also use estate funds to pay costs such as mortgage, insurance and utility bills associated with the deceased’s property while the estate is being processed. Some expenditures and financial decisions can be made at the discretion of the executor, while others are dictated by the will.