Скачать или смотреть Do Executors Get Paid for Selling a Home?

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#SokolerTeam #realestate Yes, executors are typically entitled to compensation for their duties, which can include selling a home as part of administering a deceased person's estate. The executor's responsibilities often involve managing assets, paying off debts, and distributing the remaining assets to beneficiaries, and selling property like a home is sometimes necessary to meet these obligations.

How Executors Get Paid:
Percentage of the Estate: In many states or jurisdictions, executors are entitled to a percentage of the estate’s value as compensation, which could include proceeds from selling a home. This percentage varies but is usually around 1% to 5% of the estate's total value.

Flat Fee or Hourly Rate: In some cases, executors may receive a flat fee or be compensated based on the time they spend managing the estate. This can be negotiated or set by the court if not specified in the will.

State Law or the Will’s Instructions: If the will specifies how much the executor will be paid, those instructions are usually followed. If the will is silent, state laws often dictate the payment process.

Selling the Home:
Reimbursement of Expenses: Executors can also be reimbursed for expenses related to selling the home (e.g., real estate agent fees, repairs, and legal fees).

Court Approval: In some situations, the sale of the home may need court approval, especially if there are disputes among beneficiaries or if the will does not clearly outline the executor’s powers.
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Bob Sokoler
RE/MAX Properties East
Tel: 502-376-5483
[email protected]