Legal Question in Wills and Trusts in Illinois
Executor/ sister decides to take 2% of estate
Is it legeal or custom for a sibling/executor to simply decide to pay herself 2% of moms money?
Also we have nver seen any will or accounting other than a spreadsheet made up by her that is incomplete .
1 Answer from Attorneys
Re: Executor/ sister decides to take 2% of estate
An executor is entitled to a reasonable fee for his/her services as executor. Whether 2% is reasonable depends entirely on the facts and circumstances. If a beneficiary doesn't think the fee is reasonable, then he/she can petition the court to have a hearing on the fees.
As for the Will, if it has been filed with the court then it is public record for anyone to see and copy.
As for an accounting, that is usually not provided until 14 months after the estate is opened or when the estate is going to be closed or earlier if requested. The court can order an accounting if petitioned.
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