Q: I am executor of my mother's will in Texas. Per the Compensation and expenses of personal representatives chaper 352:
I am entitled to receive a 5% commission on all amounts that I actually receives or pays out in cash..however it then states except money she had in the bank, checking acct and savings when she died that I'm getting from her that I'm receiving anyway? This is confusing me. I can't take 5% from that money that is paid to me to the estate and what I administer to my sister... only the $ on paying bills? I think I have to file federal taxes but don't know where the firm is that filed her taxes in 2016. I would like an exact clear explanation on what I can do for the 5% commission too. Also I am Independent Administration that was filed and a document "A guide for the independent executor" states that as an independent administrator that I am only limited by the terms of the will (there are no terms) and a few provisions of the Texas Estates Code...what are the exeptions?
A:
If you filed with a lawyer, you need to consult them for assistance in understanding your rights as administrator and your entitlement to the things you are specifically listed to get.
Many bank accounts are "pay on death" accounts where there is a beneficiary already listed and the bank pays directly to them without the need for probate. Insurance is typically left to specific beneficiaries as well which makes it an asset "outside" of assets in the estate.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
