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Legal question about an estate executor
Posted on 8/26/21 at 9:18 am
Posted on 8/26/21 at 9:18 am
I am now the executor of my mothers estate because the previous executor died. The son is claiming his mother is due executor fees that she declined to take at the reading of the will. Does he have a valid claim? His mother was executor for almost 4 years if she intended to compensate herself wouldn't she have had done it already?
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Posted on 8/26/21 at 9:26 am to varnelldude
I found this
but I also feel like this is important
declined meaning not at this time, or not at all
quote:
Executor fees in Georgia are governed by an extensive set of laws, including taking into account executor fees set by a will or other agreement. With lots of rules governing, the Georgia executor compensation can be boiled down to a general fee of 2.5%.
but I also feel like this is important
quote:
she declined to take at the reading of the will
declined meaning not at this time, or not at all
Posted on 8/26/21 at 9:37 am to varnelldude
quote:
she declined to take at the reading of the will.
quote:
Does he have a valid claim?
Posted on 8/26/21 at 10:44 am to varnelldude
An executor can be paid 2.5% of the estate at date of death and 2.5% of the estate upon closing of the estate. If the estate is still open, she would have only been entitled to the 2.5% value of the estate at the date of death.
Unless he had power of attorney over his mother, the son has no claim regarding his mother's agreements as executrix. That said, if he wants to sue the estate you may be better off giving him some money to shut up.
Unless he had power of attorney over his mother, the son has no claim regarding his mother's agreements as executrix. That said, if he wants to sue the estate you may be better off giving him some money to shut up.
This post was edited on 8/26/21 at 10:46 am
Posted on 8/27/21 at 11:12 am to Rex Feral
My mom got named executor on her sister's estate when my dad died. It's a real pain. For various reasons it will be years before they are able to close out her estate so she gets buried in paperwork all the time for taxes, etc.
This post was edited on 8/27/21 at 11:13 am
Posted on 8/28/21 at 2:15 pm to varnelldude
quote:
I am now the executor of my mothers estate
By document OR by appointment by a judge?
quote:
The son is claiming his mother is due executor
The son of the mother (previous executor) is not your brother, correct?
quote:
His mother was executor for almost 4 years
Is she currently alive or dead? (what caused her to no longer be executor?)
quote:
Does he have a valid claim?
I have served (at no cost) as Executor and Conservator for several people and could have taken a fee but chose not to. Most states have a statutory fee because the laws were drafted by lawyers to line their pockets. Personally I prefer a flat fee (reasonable) so the money goes to the heirs and not the bankers or lawyers.
Fees can be paid in installments during the closing of the estate or at the end and is usually outlined in the terms of the will (or trust document if probate is bypassed).
quote:
His mother was executor for almost 4 years
This is where I am having the issue as Date of Death (and the IRS allowance of alternate valuation 6 months later) means most estates should be closed between 1 year and 2 years. Having an estate open 4 years after death seems suspect.
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