Can I give my executor(s) some monies as commission for their services?
In Singapore, the court can at its discretion allow the Executor(s) to be paid a commission of up to 5% of the assets collected by them.
Source: Singapore Statutes Online website, Probate and Administration Act 1934
It is not mandatory to put in your Will instructions to offer some commission as this can be applied by the Executor to the court. If you do specify something to be given to your executor, please take note of the following:
- Your executor(s) may still apply to Court for a commission not exceeding 5% on the value of the assets collected by them.
- This might make the Executor a beneficiary as well since practically you are giving something to him/her in your Will and thus he/she and his/her spouse should not be a witness to the Will.
- Any fees arising from the process (e.g. accounting fees, funeral expenses, applying for the Grant of Probate) will still be paid out from your estate.
Regardless, if you want to, you can do so either by
Giving a specific gift from your residual assets. Under the "Select Clauses" tab, toggle on "Other Instructions" and key in the following:
I give whosoever my executor(s) a specific gift of {Currency}{Amount} to be drawn from my Residual Assets as commission for his/her services.
OR
Giving a specific gift from a specific asset. Under the “Allocate Assets” tab, within that specific asset toggle on " Additional instructions" and key in the following:
I give whosoever my executor(s) a specific gift of {Currency}{Amount} to be drawn from this asset as commission for his/her services.