Executor Exspenses

bloke91

Hi,
I am an executor for my later fathers estate, the beneficies are myself and my three sisters.

Post probate and it comes to paying executor exspenses from my late father estates. i.e Bills I have paid on behalf of the estate.

Is it best to take the full bill value from the estate or just take 3 quarters of the bill and as I would of already paid my quarter.
Thanks in advance.

Mojisola

You, the executor, are not the same as you, the beneficiary.

The executor has paid the bills out of their own money and should be reimbursed fully.

naedanger

I don't really understand.

If you get a bill (e.g. from a utility company) you pay it all from the estate. If you paid the bill from your own personal money (e.g. for cashflow reasons prior to probate) then you should refund yourself in full with money taken from the estate. Obviously keep full receipts for all the estate's expenditure on bills.

Once all bills have been paid the assets will be divided by four (assuming you have all to get an equal share) and you pay everyone the same amount. (Obviously you should be fully reimbursed for any genuine estate bills you paid from your own money in addition to your share of the estate.)

Anything else seems unduely complicated. For example if you pay 3/4 of a bill from the estate and 1/4 from yourself then it is going to be difficult to determine who gets what when you come to divide everything at the end.

Marcon

bloke91 said:

Is it best to take the full bill value from the estate or just take 3 quarters of the bill and as I would of already paid my quarter.

You take the full value from the estate (in your capacity as executor and providing it is an expense the estate should rightly be reimbursing).

Once all bills have been paid, then you divide up what's left.

Flugelhorn

Imagine someone else or is not a beneficiary  is the executor - it could  be anyone, it could be a teddy bear sitting on your desk. They aren't a beneficiary so must be reimbursed for any expenses / bills they have had to cover out of their own pocket. When this is done, divide what is left by four.