An Executor is entitled to claim executor’s commission by way of compensation for the time and effort of performing the role. The amount of the commission is determined by the Court (usually between 2% and 4% of the value of the estate). To avoid the need for the executor to make an application to the Court, the Willmaker may leave a bequest of a reasonable amount to the executor specifically expressed to be in lieu of executor’s commission. The amount can be determined by the Willmaker taking into consideration what the Willmaker considers the work involved in administering the estate will be. By leaving a bequest rather than leaving it to the Court to determine the amount of executor’s commission, expense can be avoided and also delay.
If an executor is also a beneficiary of the estate, then it is unusual for the executor to make a claim for commission. However, the executor is still entitled to do so.
Irrespective of whether an executor is a beneficiary he or she is entitled to be reimbursed for all out of pocket expenses.
