Estate Executor Fee - Take It or Not?

[Drake3287]

Just curious what others have done or might do in this situation. Last parent passed away several months ago and I'm the "lucky" one to be the Trusts Executer not to mention the only one out of a large group of siblings to organize the funeral and get-together afterwards. Part of the reason for me doing literally everything is because I live close by vs a couple of the siblings living hours away. The other's are simply not motivated to do anything.

Currently I'm in contract to sell the home for around a million but it needs a ton of work so I'm having to organize work on the house to be done before it's officially listed. And as you guessed, I've done the majority of the work clearing out the house of 50 years of old furniture and junk. The entire process has been almost a full-time job, luckily I'm retired and able to do it unlike a couple of siblings that still work. Of course with this current virus situation the house may sit for months and months before being sold, bad timing all around.

So.....my basic question is this. When the house finally does sell, do I take the Executer fee that comes along with it? I'm guessing in our state it'll be around $20,000+ or so. On one hand I feel I deserve something but on the other hand I'd hate to piss off my siblings even though they've done almost nothing during this process. Is there any right or wrong answer? I'd love to hear how others have done this while still keeping peace in the family but at the same time not selling myself short.

Not positive but I believe in our state I can either reject any Executor fee or take the full, taxable amount, not something in-between. Thank's.

[disneysteve]

I say take it. You've done the work to earn it. If your siblings complain, point out everything you did and explain that had you not done all of that stuff yourself, someone would have had to be hired to do it all which would have cost the estate a lot more money and reduced their inheritances.

[LivingAlmostLarge]

take it. My DH wasn't going to take an executor fee from his uncle's estate. But after 3 nightmare years he did. funded our girls accounts last year. After all I'd never hear the end of him giving me money from my MIL so it went straight into the girls taxable accounts

[Thrif-t]

When my mom died, last parent, I was the executor. I didn't really take a fee per say but there was 2k left in the checking account when everything was said and done, so I kept that as my fee. I was entitled to collect 15k as my fee. I was fine with the 2k, my siblings did help with the big part, cleaning out the house.

[Joan.of.the.Arch]

Oh, please take the fee! It's work! I was so grateful for all the work my brother-in-law did as executor when his father died. It was a lot of work requiring keen organization, interviews and hiring of workers in a state where none of us lived, sale of two houses, all the financial paperwork, disposal of household contents including distributing to family who wanted anything, tidying things up with lawyers, creating regular updates for the family. He did such a herculean job which I think none of the other siblings would have done so well. And he did it under the stress of having some siblings who felt fine with being sharply critical from afar....Take your fee.

[Drake3287]

I'm certainly tempted to take it. I guess a lot will depend on how soon the house sell's. If it sells quickly I'd feel guilty taking such a large sum especially when I'm already financially better off then them. On the other hand, if it takes months and months to sell because of this virus situation/economy I'd feel more comfortable in taking it simply because of the added work that goes along with it. Never having been in charge of an estate I wasn't sure how most people treat this fee when other siblings are involved.

[kork13]

Take it. If you feel that it's excessive, you can give a portion of it as a gift back to your siblings, or to some charity of your preference. Being an executor is almost always a significant amount of work. Value yourself & your time enough to demand/accept reasonable compensation for your efforts.

[QuarterMillionMan]

I had appointed a licensed professional fiduciary to be my executor in Los Angeles not wanting to burden my siblings but when they found out how much the fees are they happily volunteered to become my successor trustees. The fiduciary said 10% of my net worth would be charged to start with upon needing services in addition to $150/hour for everything thereafter.

[Fishindude77]

If you don't need it, I would not take it. You're going to get your share of the inheritance, taking more could cause a serious family rift that you don't need.

[Drake3287]

If you don't need it, I would not take it. You're going to get your share of the inheritance, taking more could cause a serious family rift that you don't need.

That's part of my thinking but at the same time I don't want to sell myself short, anyone would enjoy a little extra money. Living an hour away from my parents home, I've already made a dozen trips back and forth with many more to go. I'm inclined to take the money because of this but at the same time give each sibling a certain sum based on if they helped me during the process. Some did while others couldn't be bothered. I can see how family rifts do happen during these times.

[mumof2]

I say take it you have gone above and beyond dealing with everything so why not....other have done nothing...but I'm sure they would take it if they could...your not taking the money you have earned it!!