Q: in the state of Missouri, if you are an executor of an estate, are you entitled to fee or percentage
Should there be an itemized of all property that is sold
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A:
As an executor in Missouri, you are entitled to a reasonable fee or a percentage of the estate's value for your services. This compensation is typically determined by state law and local court guidelines. It's common for the fee to be based on a percentage of the estate’s value, although the court may adjust the amount depending on the complexity of the work involved.
Yes, it is important to keep detailed records, and an itemized list of all property that is sold should be provided. This transparency ensures that the beneficiaries and the court can see how assets were handled and sold. It helps protect you, as the executor, from potential disputes or accusations of mismanagement.
Always remember, managing an estate comes with responsibilities, and keeping accurate, organized records is key to fulfilling your role properly and avoiding legal complications.
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