Executors of an estate may be entitled to some sort of compensation, but generally speaking, it typically isn't much. There is the fear that if an executor takes home too nice a paycheck for his or her duties in administering an estate, it will look like he or she is taking advantage of his position.

However, if an estate is very large or hard to manage, most people in Buffalo and elsewhere would probably agree it is fair to give an executor a raise from time to time, particularly if he or she has done a lot to keep the estate shipshape. That's what happened in the case of the estate of the recently deceased pop star Michael Jackson. A judge recently said it would be okay for the executors of his estate to take home a little more for their efforts.

When they came on board, the executors signed an agreement that said they would be entitled to 10 percent of revenue earned by the estate, except for revenue from a few excluded sources. Those exclusions include royalties earned from Jackson's music and the money Jackson's estate earns from rights Jackson owned to the music of other artists, including The Beatles, Elvis Presley and Bob Dylan.

Since Jackson's death, there has been a huge uptick in the popularity of his music and the rights he owns to the portfolio of other singers' music have continued to be a revenue generator. As such, the estate has earned over $310 million since Jackson died June 25.

In a case like this, most people would probably think it is okay for the executors to take home a little more. After all, earning $310 million in just over six months is quite impressive, and the executors make a good point when they say that those earnings would not have happened had they not put time and effort into making profitable agreements.

Source: The Associated Press, "Judge approves pay bump for Jackson estate execs," Anthony McCartney, Dec. 19, 2011