I'm attaching a link to an article that talks about the need for a literary executor for a person who has written books. It's a must-read for anyone who writes, but also for anyone who creates and sells tangible art of any kind. You need to think about who will look after these assets after you're gone, and who will benefit if your creations start to (or continue to) generate income.
Click here to read this article from
www.beyondthemargins.com.
The executor of my father's will, my brother, plans to put down his return flight and hotel costs to my father's funeral as expenses as the executor. This will be quite high since he flew in from across the country.
ReplyDeleteI guess he feels this way because while he was here for the funeral, he did some executor work. Can he do that?
My brother, the executor, plans to charge his flight and hotel bills when he flew in to my father's funeral, to his estate as an expense. He did some executor work while he was here.
ReplyDeleteCan he do that?
Hi Louise,
DeleteHe's right that the key to it is that he did some executor work while he was here. I think he can do that. It sounds as if this estate is going to lose a lot to executor expenses, and I assume that he will also have to deal with a bonding issue. An idea to keep the costs down without your brother relinquishing control is for him to hire a trust company to act as his agent in the city where the estate is located.
Lynne
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