Can an executor take his fee from immovable property such as a house if it states in the will that each of the heirs is equally entitled to the estate?
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Can an executor take his fee from immovable property such as a house if it states in the will that each of the heirs is equally entitled to the estate?
My brother is the executor to my parents estate. He is taking an executor fee but
since there is no cash he is taking the fee out of the proceeds of the house. In
the will it states that the property should be split equally to the five heirs.
Can he take this fee from the other four heirs?
Asked on October 24, 2019 under Estate Planning, Louisiana
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
Yes, he can, because the law entitles him to his fee. He is not taking it from the heirs; he is taking it from the estate, beause the estate owes him the money. The fact that there is not cash in the bank does not deprive of the fee which the law says he should receive; he can take it from other, non-cash assets or from the proceeds of selling those assets (like the house).
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