If you create a trust as part of your estate plan and are choosing a trustee, the same general attributes should apply. And if you struggle to identify someone in your personal life to serve as an executor or trustee, you can rely on a professional like an attorney or accountant, ...
How to Go about Choosing Executor for Your EstateNancy Dilley Nancy Dilley
How long each stage takes can vary depending on how complicated the estate and the assets may be, said Margolis. “Most steps can be taken within months, but the final steps will usually take at least a year,” he said. “This is in part because you have to wait to get 1099s for ...
How to distribute assets It will take time to distribute the decedent’s assets. Keep in mind you’ll need to hold back enough assets to cover the expenses of the estate such astaxesand debts. Carefully think through your decisions regarding asset distribution, and don’t feel obligated to ...
Recent Examples on the Web According to court documents obtained by PEOPLE, the band — whose members are Michael Diamond, Adam Horovitz and the late Adam Yauch (who is represented by the executor of his estate) — is suing Brinker International, the restaurant chain's parent company, for tw...
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How to Finalize an Estate Take Inventory The executor must prepare an inventory of the deceased's assets, including real estate, bank accounts, brokerage accounts, vehicles and such valuables as jewelry, artwork and collectibles. The executor is responsible for protecting all property during probate....
How Much Should an Executor be Paid in GA? In Georgia, the executor is known as a "personal representative". Executor compensation for Georgia estates can be set by the will, a prior contract with the decedent, or an agreement with the executor and the estate heirs. If none of those ...
Click to scroll toNM Fee Calculator. How Much Should an Executor be Paid in NM? In New Mexico, the estate executor is known as a "personal representative". In determining executor fees, the state of New Mexico uses the commonly accepted principle of "reasonable" compensation, and says nothin...
5. How You Will Be Paid Each state has laws determining how an executor is paid. It can be by the hour, a flat fee, or a percentage of the estate. Sometimes the fee is determined by theprobate courtjudge. There may be an "extraordinary fee" in addition to the regular fee if an ...