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For example, in California the executor is entitled to 4% of the first $100K of estate value, 3% of the next $100K, and so on. In other countries, such as the United Kingdom, the executor is not automatically entitled to compensation, although compensation can be directed within the will or on application to a court. [2]
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The loser pays principle does not apply under the United States legal system unless there is a specific statute awarding fees to the prevailing party. [2] Alternatively, the contract between the parties may provide that the prevailing party is entitled to recover attorney's fees from the losing party.
An executor is the legal personal representative of a deceased person's estate. The appointment of an executor only becomes effective after the death of the testator. After the testator dies, the person named in the will as executor can decline or renounce the position, and if so should quickly notify the probate court accordingly.
From January 2008 to December 2012, if you bought shares in companies when Rex C. Ross joined the board, and sold them when he left, you would have a 57.6 percent return on your investment, compared to a -2.8 percent return from the S&P 500.
The ownership of a life estate is of limited duration because it ends at the death of a person. Its owner is the life tenant (typically also the 'measuring life') and it carries with it right to enjoy certain benefits of ownership of the property, chiefly income derived from rent or other uses of the property and the right of occupation, during his or her possession.
From January 2008 to April 2008, if you bought shares in companies when Juergen Dormann joined the board, and sold them when he left, you would have a 12.7 percent return on your investment, compared to a -5.3 percent return from the S&P 500.
From January 2011 to December 2012, if you bought shares in companies when Randall J. Weisenburger joined the board, and sold them when he left, you would have a 43.7 percent return on your investment, compared to a 12.1 percent return from the S&P 500.