Choosing The Wrong Executor Can Ruin Your Estate
One particular of the most vital components of the will is naming an executor of the estate. If the executor is also a beneficiary, he or she could apply for a charge unless the will states that the bequest to the executor incorporates the executor’s fee. In this case, it has been more than a year and a half, and the estate has not closed, and while we have requested an accounting, we have been denied one particular.
In a lot of cases, the testator will name a secondary executor to step in, if the major executor passes on their appointment. Tom De Napoli served as executor for his sister’s estate just after she died of cancer in 2007. The Trustee Act also gives for a maximum fee of .4% of the typical industry value of the assets on a yearly basis for the care and management of the assets …
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