QUESTION

Do executors get an extra percentage over other beneficiaries?

Asked on Jun 26th, 2014 on Wills and Probate - Georgia
More details to this question:
I was told the executor gets 10% of the estate, over and above the other siblings.
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1 ANSWER

Wills Attorney serving Alpharetta, GA
4 Awards
An Executor is entitled to a commission for serving, unless the Will says specifcially that no compensation is to be paid. In Georgia, the Will can set a fee or a specific method to be used to determine the fee, but if the Will doesn't set something, then state law applies. The state law in Georgia would not provide for a flat 10%. However, if the state isn't Georgia, then that state's laws may be different, and could possibly create a 10% fee. Also, if the Will says that the Executor gets 10% of the estate, then even in Georgia that would be the Executor's fee. Being an Executor is a lot of work. The fee is well-earned in most cases. The Executor is also exposed to a lot of potential liability. And Executor's fees, unlike bequests, are taxable income. So, the Executor isn't really being favored over his or her siblings - the fee is for a real job. If the other beneficiaries of the estate believe something improper is going on, they should consult their own estate attorneys for help in reviewing the applicable compensation provisions and determining what steps, if any, to take if it really does appear that something improper is taking place.
Answered on Jul 13th, 2014 at 12:58 PM

This answer is being provided as general information and not as legal advice. No attorney-client relationship is created by this answer.

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