Executor bequest

Gers

I'm now sorting out my late DM's executary which is really simple as I'm the executor and only beneficiary however it's brought some questions to my mind when thinking about re-doing my own will shortly.

My executor is a friend, most of my family are overseas so it's not really viable for them.  Now that I know how much work it's taken to clear my DM's estate I was wondering if it's usual / courtesy to bequest the exector an amount in recognition of the time spent?  It seems a bit rude to expect them to do the work without some reward.

poppystar

Absolutely. I would always do this in recognition of the work involved. This is in addition to any bequest they might also be getting. If I remember correctly this is the the first gift set out in my will after the executors are named and before all the other bequests. It’s worded much as you indicate as a recognition of their acting as executors. 

Which actually makes me wonder what would happen if one renounced? Another question on my list as I now revise my own will...

BooJewels

I think if the executor is a main beneficiary, then it's perhaps not as important for a separate bequest in recognition - I'm executing 2 wills at the moment and sole beneficiary in one case and one of 2 in the other - so in that case the work has been shared and all's far.  My own will is the same - main beneficiary is also executor - with the usual contingencies written in.

But I'm also named executor in another will where I'm not otherwise a beneficiary and there's an amount left to cover that process.  In another case with another family will, the estate is divided into 10 and a different amount of tenths are given to different people - an extra 1/10 is given to each executor (extra to their bequest) and if any renounce or pre-decease the testator, then that tenth goes to the main beneficiary.  This arrangement is causing some modest consternation in view of who has recently passed (accounting for 3/10) and who is the main beneficiary (an unknown charity - now getting 7/10).