Structuring Executor’s Fees to Avoid Income Tax For Your Heirs
Last week, I began working on the Last Will and Testament for a Metairie couple who were leaving their assets equally to their 3 children after they both passed. One of their biggest goals was compensating their daughter for her role as executor of the estate. They thought it would be appropriate for her to receive a little bit more than her two brothers because of the work she would have to take on as executor.Typically you would lay out in your will that the executor gets a percentage of the estate (anywhere from 1 to 3%) as compensation. However, [...]