Executors
The job of a probate executor is often a thankless task, met with impatience and suspicion by the beneficiaries of the estate. In addition, executors and trustees have traditionally been expected to perform their duties free of charge!
One would think - why would anyone agree to be an executor for probate?
For most, it is a sense of duty to their friend or family member. Despite this, the law recognises that if executors or administrators were not compensated for their work many would simply renounce their role once they discover what being an executor or administrator actually entails. As a result, the section 86 of the Probate and Administration Act 1898 allows for executors and administrators to be paid executors commission for their efforts.
What is executor’s commission?
Executor’s commission, or administrator’s commission, is a discretionary estate payment to Probate executors or estate administrators as compensation for the “pains and troubles” they’ve gone through in administering the estate.
Executor’s commission can either be made by:
1. Having all residuary beneficiaries agree and consent to the sum the executor or administrator is seeking as commission for their efforts.
2. Applying to have a NSW Supreme Court Registrar approve an amount that is “just and reasonable” in the circumstances.
National Probate and Estates Group is the largest law firm provider of grants in New South Wales.
We will assess your estate and the work you have done as an executor to get you more compensation for your efforts. Get in contact for a free assessment with us and start your claim today.
How much can I be paid?
Receive a complimentary assessment for Probate Executor’s Commission now: