Executor FAQ

Questions:

• What is an executor?
• Does the person named in a will as executor have to serve?
• Does an executor get paid?
• Must an executor hire a lawyer?
• How can a lawyer help an executor?
• Can an executor get help from someone besides a lawyer?

Answer:

Does an executor get paid?

The main reason most people serve as an executor is to honor the deceased person's request. However, the executor is also entitled to payment. The exact amount is regulated by state law and is affected by factors such as the value of the deceased person's property and what the probate court decides is reasonable under the circumstances. Commonly, close relatives and close friends (especially those who are inheriting a substantial amount anyway) don't charge the estate for their services.