When an executor is a beneficiary?

When an executor is a beneficiary?

Can an executor also be a beneficiary? Yes. It’s quite common for an executor to be a beneficiary. Consider when one spouse passes away, the living spouse of the decedent is frequently named executor.

Can you make a beneficiary an executor?

When making a Will, people often ask whether an Executor can also be a Beneficiary. The answer is yes, it’s perfectly normal (and perfectly legal) to name the same person (or people) as both an Executor and a Beneficiary in your Will.

Who is the ex-ecutor of a testator’s estate?

The testator’s estate is the sum total of that person’s assets, including bank accounts, investments, personal property, real estate etc. An ex- ecutor is the person or trust company appointed in a will to control and protect the estate’s as- sets, pay off any debts and distribute property as directed by the will.

Can a beneficiary remove an executor from an estate?

You should seek independent legal advice if these types of accusations are being made against you. If a beneficiary believes that the estate is not being properly administered then it is possible for them to apply to the court to substitute or remove you as an executor.

Can an executor of an estate pay for legal advice?

In the recent case of Mussell v Patience, the Court ruled that an executor who receives and pays for legal advice during the administration of an estate only needs to show that the estate’s money has been spent on ‘proper estate business’. In this case the judge said that an executor is entitled to pay expenses from the estate provided he can show:

Who are the executors of a will in Newfoundland?

An ex- ecutor is the person or trust company appointed in a will to control and protect the estate’s as- sets, pay off any debts and distribute property as directed by the will. This publication is a resource for individuals who have been named as executors.