MESNE PROFITS. The word âMesne Profitsâ can be understood as rents or profits accruing during the rightful ownerâs exclusion from his land. Justice Low of the British Columbia Court of Appeal adopted these words relating to âMesne profits.
The duties of your executor can vary depending on the complexity of your estate. Overall, the executor will manage your estate and ensure that everything is done according to the terms of your will.
The executor is also responsible for any estate taxes when due. Estate taxes are only applicable to very large estates -- in excess of $5 million. An executor typically cannot settle a large estate that owes taxes until he files an estate tax return and receives an estate tax closing letter from the IRS.n executor typically cannot settle a large estate that owes taxes until he files an estate tax return and receives an estate tax closing letter from the IRS.