Can an executor of a will gain from said will?

Question

Can an executor of a will gain from said will?

Answer 1

Yes if the executor is named as an inheritor

Answer 2

Under English law the position is simple, yes they can.Would any person not want their family to manage the distribution of their assets on death to family members including themselves.The same would apply even if there there was no will with family members being entitled to apply to the Probate office to deal with the assets .It is very common for beneficiaries to be named as executors as they are often the closest people to the deceased ie spouses and adult children with the solicitor who drew the the will up also acting as executor and doing all the work involved  

Answer 3

Under English law, the answer is yes, provided the Will contains the appropriate wording. However executors, beneficiaries, or the spouses of executors, beneficiaries, MUST not witness Wills as gifts to witnesses or their spouses will not be allowed to stand, save for exceptional cases.

Answer 4

If the Will is properly executed - ie its been signed and witnessed - then yes the executor can also be a beneficiary as well.  

The Executor must not witness the Will if he is to be a beneficiary though.

Answer 5

I don't know about the rest of the world, but in the US it varies by state, and in my state the executor can absolutely be a beneficiary.

"Probate laws differ from state to state. The following discussion applies to residents of Texas.

You can write a will that denies or limits compensation to your executor. You may appoint your spouse or another beneficiary as executor, and a beneficiary is often quite willing to serve for free. If the executor is the sole beneficiary of the will, then an executor's fee may not be important to him, because it will come out of the same funds he would otherwise receive as a bequest."

Edit: again, don't know about the rest of the world or other states in the US, but in NJ, a witness can be a beneficiary as well: "While the law permits a beneficiary to witness a will, it is recommended that a beneficiary witness be used only when a disinterested party is not available, in order to avoid future challenges as to conflict."

Answer 6

Yes...only witnesses are barred.

Answer 7

Of course.  A will should have some provision in it to compensate for time and effort spent. If there's none, though, you can pay yourself 3%-5% of the estate, once all the creditors have been paid. You need to create a balance sheet, and account for all the money of the estate, showing what the assets are, and what the expenses were. Your fee should be separately listed, with these expenses.  If the deceased bequeathed something to you, the executor, it is legally yours, once everything has been settled.

Answer 8

In the US, the Executor is almost always named as an inheritor. Often times they are the only person named (Wife as executor for husband)

Answer 9

Oops - apparently they can;

http://www.wisewills.co.uk/executors.htm

Answer 10

Yes.  In fact, in cases where there is only one beneficiary, that beneficiary is almost always appointed as executor.