Executor

dlambirl

Hi all,

Just hoping that someone could give me a rough idea:

Can an executor of a will get paid and what for.

What (roughly) can they expect to get??

Thanks in advance.

Gangu

dlambirl wrote: »

Hi all,

Just hoping that someone could give me a rough idea:

Can an executor of a will get paid and what for.

What (roughly) can they expect to get??

Thanks in advance.

Not my area, but "yes" from recollection, assuming that the will provides for payment from the estate.

seamus

IANAL, but I also have vague memories of the executor being able to claim expenses from the estate, if any arrive in preperation of the funeral or execution of the will.

Hobart

seamus wrote: »

IANAL, but I also have vague memories of the executor being able to claim expenses from the estate, if any arrive in preperation of the funeral or execution of the will.

Same as, but if the Will is made in the presence of a solicitor, they would 99/100 advise that "some" provision is made for the executor.

If the will is made out privately, and an executor is appointed, it is normal practice that the will is executed in the presence of a solicitor and that some provision would be agreed between the parties.

Under most circumstances, the executor is somebody well known to the family and "in cases I have heard of" payment is normally made for their time in either monetary means or with a gift from the estate.

Jo King

dlambirl wrote: »

Hi all,

Just hoping that someone could give me a rough idea:

Can an executor of a will get paid and what for.

What (roughly) can they expect to get??

Thanks in advance.

Yes. Provision is made in the will for payment. If the executor is to benefit from the will they should not be a witness.

elgransenor

Jo King wrote: »

Yes. Provision is made in the will for payment. If the executor is to benefit from the will they should not be a witness.

An executor is not entitled to be paid and he/she is not entitled to profit from carrying out his duty.
He/she is entitled to expenses properly incurred in carrying out his duty.
However a charging clause can be included in the will if the testator wishes but in the absence of this charging clause,the executor can not be paid.
This charging clause is regarded as a legacy so it would be invalidated if the executor(or their spouse) witnessed the will.

Sangre

Indeed.

Many solicitors will make a will for cheap with the expectation they will be the executor and there will be a charging clause in place.

dats_right

Sangre wrote: »

Indeed.

Many solicitors will make a will for cheap with the expectation they will be the executor and there will be a charging clause in place.

Not the case at all. Solicitors may draft a will at a discounted rate or in some instances for free for a client in the hope that when the time comes the executor will instruct the firm to administer the estate, but it is uncommon that the solicitor will be personally named as the executor. Remember just because an executor isn't entitled, in the absence of a charging clause, to profit from their role as executor that this doesn't preclude them from appointing a firm of solicitors to administer the estate on their behalf. But there is a big difference between a solicitor being appointed as executor vis-a-vis a solicitor being asked to act on behalf of an executor.

Solicitors are generally loathe to become executors themselves partly owing to the onerous duties placed on LPR's and for numerous other obvious reasons. Also if a solicitor is appointed as an executor it will further increase costs over and above the usual fees charged by them in administering an estate on account of the extra work and responsibility.

Gangu

dats_right wrote: »

Not the case at all. Solicitors may draft a will at a discounted rate or in some instances for free for a client in the hope that when the time comes the executor will instruct the firm to administer the estate, but it is uncommon that the solicitor will be personally named as the executor. Remember just because an executor isn't entitled, in the absence of a charging clause, to profit from their role as executor that this doesn't preclude them from appointing a firm of solicitors to administer the estate on their behalf. But there is a big difference between a solicitor being appointed as executor vis-a-vis a solicitor being asked to act on behalf of an executor.

Solicitors are generally loathe to become executors themselves partly owing to the onerous duties placed on LPR's and for numerous other obvious reasons. Also if a solicitor is appointed as an executor it will further increase costs over and above the usual fees charged by them in administering an estate on account of the extra work and responsibility.

I concur. Sangre. where do you have experience of the practice that you mention?

Wantobe

Sangre wrote: »

Indeed.

Many solicitors will make a will for cheap with the expectation they will be the executor and there will be a charging clause in place.

It does happen, in my experience, but it is uncommon.

2breal

3% of the estate is normal.

2breal

what part is uncommon that solicitors charge for their time or that ordinary citizen executors work for free?

nuac

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