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Does An Executor Get Paid?

Being the executor of a will is a role that takes a lot of time and effort. It can be complicated and stressful. So many people assume that an executor will be paid for their time at the very least. However, this is not generally the case, and executors are not automatically entitled to receive any compensation at all.

When can executors be paid?

If the executor is a family member or friend, or indeed any other person who does not execute wills for a living, they will not be entitled to be paid for being executor. It could be, however, that they are also beneficiaries in the will, in which case they will of course receive their inheritance, although this may not be in recompense for being an executor, and may have happened anyway depending on the wishes of the testator.

Does a professional executor get paid?

A professional executor such as a solicitor, a bank, or a company such as Probate A Will, dedicated to this kind of work, would charge for their services. However, this charge can often be seen as well worth paying because it will save the named executor a lot of time and stress – the will can be executed much more quickly, and the chances of any mistakes being made are minimal when a professional is in charge.

If a professional is named in the will, the beneficiaries must all agree to this body being used, and if they cannot agree then they must ask the executor to step down and renounce the task. The next of kin is then able to administer the estate, or appoint someone else to do so.

Is there anything an executor can be paid for?

Although an executor cannot charge for their time, or the hard work they put into executing the will, they can claim for expenses. This might be the grant of probate application fee, funeral costs, costs for the wake, paying off utility bills, and postage costs, for example.

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