executor qualifications

[muser1]

Under California law, is it legal/ethical for a beneficiary to also be an executor or conservator?

A friend's father passed away in late 1999, leaving a $6,000,000 estate (before probate). The estate was divided three ways with 80 percent of it going to my friend and her brother (the decedent's children) and 20% to her uncle (the decedent's brother who was also executor).

The uncle charged the estate $100,000 in executors' fees which seems excessive to me, particularly in light of the fact that he got the smaller portion of the estate.

 

[advisor10]

JUNE 7, 2001

DEAR MUSER:

Yes, it is ethical and legal for an executor to also be a beneficiary. It is a somewhat difficult and time-consuming job to do all the paperwork required to handle a decedent's business affairs.

EXECUTOR FEES FOR CALIFORNIA:
4% of the first $15,000.,
3% of the next $85,000.,
2% of the next $900,000.,
1% of the next $9,000,000.
0.5% of the next $15,000,000.

I calculate his fee as $110,925., so what he has charged is reasonable. He may have had access to slightly different figures to base his computation on.

SINCERELY,

[email protected]