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VIC Executor of Will - Deducting Beneficiary's Claim as Reimbursement?

Discussion in 'Wills and Estate Planning Law Forum' started by An76, 17 December 2015.

  1. An76

    An76 Member

    17 December 2015
    Likes Received:
    I am my mother's executor of will. There are three beneficiaries, one of whom is myself. One beneficiary has helped sorting things out, cleaning property, etc. and we have both done probate ourselves and sold mum's house privately without a real estate agent to save costs to the estate. The third beneficiary has refused to help in any way but expects an equal share of the estate.

    Are we able to deduct any reimbursement in lieu for what a solicitor and estate agent would have charged seeing as we did all the work or do I have to give the other beneficiary the same as us?
  2. James D. Ford - Solicitor

    James D. Ford - Solicitor Well-Known Member

    19 June 2014
    Likes Received:
    Hi An76

    It is possible for the Court to make an allowance for the payment of a commission to you as Executor (not exceeding 5 %)... refer below...


    Executors' etc. commission
    (1) It shall be lawful for the Court to allow out of the assets of any deceased person to his executor administrator or trustee for the time being such commission or percentage not exceeding Five per centum for his pains and trouble as is just and reasonable

    (2) Despite subsection (1), the commission or percentage allowed by the Court in respect of a licensed trustee company must not exceed the commission or percentage that a licensed trustee company may charge under Chapter 5D of the Corporations Act.

    Kind regards

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