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My husband and I moved in with my parents to care for them in 2019. I lost my husband to Covid last year....I am still here on my own now caring for them. Is there a set % that an executor receives from the settlement of estate???

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Lakemama, the answer to your question is it depends on the laws in your state. You will hear advice/stories in this forum but they are nothing but anecdotes, because the different states do this differently.

In my state (Iowa), the executor is entitled to a fee of 2% of the estate value, unless the will states otherwise. It's my understanding that this 2% is taxable, which is one reason many executors might choose to decline it. My husband is currently the executor of his mother's estate (she died in February). It has been an enormous amount of work for us both. His parents had a very large property (five acres, a 100-year-old home and two huge outbuildings, both with two levels of storage). They were hoarders. Every possible place where "stuff" could be stored was full to the brim. The woman saved every single piece of paper that crossed her path, from grocery store receipts to junk mail to 60 years of cancelled checks. You don't want to know how many trips we made to Goodwill, how many dumpsters we filled, and how much stuff we hauled to the hazardous waste facility.

We had a little help from our niece and nephew, who will share in the estate with my husband (his brother, their father, died some years ago). Our own children helped a little as well. But the vast bulk of the work fell on our shoulders, and you can bet my husband will take the executor fee without the slightest bit of embarrassment. It's not a huge estate, but the niece and nephew will end up with a meaningful amount of money at a pretty young age, thanks mostly to the effort we've put in.

My own mother, knowing how hard we've been working on this, thought it would be cute to let me know she'd designated me as her executor, to serve WITHOUT compensation. I haven't decided whether or not to tell her this won't be happening. I don't care about the money - in all likelihood by the time she passes there won't be anything left after the bills are paid. It's the idea that she assigned all the work to me so that my brothers' share of any inheritance wouldn't be reduced. It just feels so disrespectful.

There are some on this forum who will say I'm greedy and unappreciative of everything our parents did for us. They're entitled to their opinion but I disagree. I visit my mother, I take her to medical appointments, my husband and I help her with repairs and maintenance of her house. He did all that with his mother as well. We take care of them while they are alive out of love; when they are gone and the state steps in with a million and one requirements to be met in a limited time frame, along with the fiduciary responsibility of that, I say executors deserve compensation.
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notgoodenough Sep 2022
That's kind of messed up, what your mom is doing...

I was the executrix of my mom's estate, which specified I was NOT to be compensated. But all of her assets were in trust, and they were all liquid/stocks, with no real estate property to be settled, so it was a very easy estate to settle. I think the hardest part of the job was getting the LifeAlert sent back. She passed in October, and I had the estate settled by the end of that year. So even if I was entitled to take a fee, I doubt I would have.

I think if there's a lot of work involved - like what you and your husband are doing with his mom's house, yikes!! - there should be a fee you can collect, because your time is worth something.
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The Executor is named in the Will and in my State the Executor gets a % of the estate according to the law. And that all depends on the final accting of the estate. Debts and liens must be paid first. The net worth of the Estate is where the % due comes in. In my State it starts at 4% to a certain cap, lets say 200k. The Executor gets 8,000 off the top. The balance is split between the beneficiaries. As the Estates worth goes up, the % received by the Executor goes diwn. The lowest amount they can receive is 2%. So on a million dollars the Executor gets 40,000.

When I probated my Moms Estate I was asked if I would be taking my fee and I said no. It shows up in the final accting. The accting shows what each beneficiary will receive on the bottom line. This is where you contest the findings. My brothers turned over to me some shares worth about 5k that Mom had, the one reason why I didn't take the fee. I was the one who cared for Mom and was Executor. This was their way of acknowledging what I did.
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Countrymouse Aug 2022
Is that right? Well I never - you learn something every day :)

Well handled to all of you, by the way.
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No, there isn't.

If the executor provides services in a professional capacity - is a lawyer, basically - then they'll charge a fee to the estate based on their usual rate. But a beneficiary (assuming you will be a beneficiary) acting as a private individual will get whatever the will says.

Is there any particular reason why you're wondering about this?
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First, I'm very sorry for your loss of your husband.

I'm just a little confused by your question. Are you talking about settling your husband's estate or your parents? I would think if you're talking about your husband's estate, as his wife you would get everything, anyway, in addition to being the executrix.

So, I am going to assume you are talking about your parent's estate.

As others have said, whether you get a % of the estate as a fee depends on the laws of the state AND what the will/trust says. But if this is to try and recoup money for the time you have spent/are spending being your parents' sole caregiver, it would be better for you to arrange for payment NOW for caregiving services, rather than hope for money after they have passed, because by then their estate might very well have dwindled down to nothing, depending on the level of care they might need in the future.
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Lakemama: The answer will depend on what state/locality that you reside in.
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Check your state law, that's what governs how much you can get.

Hopefully they are paying their fair share of costs and giving you pay for your caregiving. If not, change that today.
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Frebrowser Aug 2022
If it is in Georgia, this link may help, but calling it automatic would be an exaggeration.

https://law.justia.com/codes/georgia/2020/title-53/chapter-6/article-7/section-53-6-60/

I agree that pay as you go is better. There is no guarantee that there will be anything left in the estate or that you will outlive them.
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Different states have diffferent guidelines for the executor receiving monetary compensation for time spent on the estate 'work'.

Often, the 'non executors' get angry b/c all they see is one kids getting 'more' than they are. But they don't see the behind the scenes work that goes into settling an estate.

My mother died on Sunday of this week. Her FPOA son immediately became executor and the look on his face when I said that to him was one of terror. Of course we are all helping, but he is doing the lion's share and after only 3 days, he is burned out. BUT, I did say to him, in the presence of the other sibs that he needs to keep track of his hours and charge the estate the going rate (which I think is now $30 per hour).

SO MANY little ticky tacky things to deal with. We are all helping but the final say goes right to him.

As much as YB would LOVE to be in control of this--he isn't the executor and his 'voice' has no more power than mine or my sisters'.

My Dh and I both did hundreds of hours of work for his dad's estate and my BIL kicked up such an enormous fuss over everything that we simply did not take a dime. Wasn't worth the family drama. I'm sorry to say I still struggle with the grasping relative who jumped in and took everything of value and demanded an accounting of everything--obviously not trusting my incredibly trustworthy husband.

At least we know what to expect when DH's mom passes. More of the same.

You don't HAVE to take the 'fee' but you are certainly entitled to it.
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MACinCT Aug 2022
As executor 4x there is a critical point in time when all of the pieces come together at one time. The last one I did was with sale, cleaning and closing a house within 6 weeks, plus trying to close a small business. One week took 60 hours of my time.....and then everything suddenly went away
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Reading these responses has been eye-opening! My father-in-law passed in 2017 and his widow is still living but my brother-in-law (who is a CPA) was his executor. It never occurred to us that he might not have been paid for all the time and money he has put into that duty but we intend to find out. If he hasn’t, we’re going to see that he is compensated from our share of any inheritance we might have in the future as I am sure he will also be my mother-in-law’s executor!
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JoAnn29 Sep 2022
When an estate is Probated there has to be an accting that all beneficiaries have to sign before money is distributed. That accting should show the Executors fee if taken.
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Lakemama, to be paid as the Executor of your parent's Will, it has to be mentioned in the Will. Being you are the daughter, I would assume you would get what is in the Estate, or will you be sharing it with siblings and/or other family members?

I was the Executor of my parent's Will, never even thought about asking for a fee as I would be inheriting their estate.

Since your Mom has Alzheimer's/dementia she would be unable to change her Will. Your Dad can have his Will updated to mention a fee for being the Executor.
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I read your profile. You need more income. You'd stated you wanted your son to go to a private school. It looks like last year he went to the public school? Because of your parents' needs, you can't work outside the home.

What is your parents' financial situation? Can they afford AL? Could they become Medicaid-eligible? Sounds like your own retirement is tenuous.

Do you have siblings? What is their part in all of this? How did it come to be that your family was the one to move to CA to take care of your parents?
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