More details to this question:
What if my mother's Will states on Section E. The Executor and Co-Executor shall serve without compensation. What does that mean, exactly? My sisters are Executors to my Mother's Estate. It is in Probate. My mother left over a $200,000 in the bank with the names of the beneficiaries, I have eight siblings. The account has nothing more than $25,000 left. They have taken the money, and said it's gone. with no other excuse, other than it's gone. And my question is Whay can we do about it? They are also are now claiming they are taking 5% each of the Estate Sale proceeds and their share as beneficiaries. When the Will specifically states they are not to be compensated.
1 ANSWER
The provision means that your sisters are not to receive any compensation for their services as executors, it doesn't mean that they are not entitled to money as beneficiaries or for other services they may provide to the estate, for example if one of them was the realtor handling the sale of your mother's home. If you believe that your sisters have wasted, and/or stolen, money from the estate, you, on behalf of the estate, can sue them. Moreover, in New York at least, and I would expect in Texas, before a probate estate can be closed the executors are required to account to the beneficiaries and the court for what they have done with the estate's assets, and your sisters will have to provide more informaiton then 'it's gone."
Answered on Sep 21st, 2021 at 10:36 AM