Should I pay my Executor?

This decision is up to you but settling an estate can be quite a bit of work. For this reason, most people choose to compensate their Executor. However, you should keep in mind that many Executors choose to hire a law firm to help them administer the estate. In this situation, a significant portion of the work will be offloaded onto the law firm. Also, if you have a family member serving as Executor, any compensation they receive for serving as Executor will be reported as taxable income, whereas amounts they receive as a beneficiary are not taxable income.

About the Authors

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John A. Cocklereece, Jr.

John Cocklereece concentrates his practice on property tax appeals, business law, tax controversies, and estate planning and administration.
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Attorney Travis Woolen

Travis Woolen

Travis joined Bell, Davis & Pitt shortly after graduating from law school. Focusing his practice on trusts and estates, he regularly advises clients regarding the preparation of simple Wills, Revocable Trusts, and Powers of Attorney, as well as more complex tax planning trusts and other documents to carry out his clients’ desires in a tax-efficient manner. Travis also regularly helps implement estate plans by representing fiduciaries in the administration of trusts and estates.
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