Legal Question in Wills and Trusts in New Jersey
Executor compensation
I have CD accounts, annuities and Money
Market fund accounts with named
beneficiaries. Are these accounts still
considered to be part of my estate and
therefore subject to compensation for the
executor of my will?
Asked on 1/07/07, 9:40 am
1 Answer from Attorneys
Ronald Cappuccio
Ronald J. Cappuccio, J.D., LL.M.(Tax)
Re: Executor compensation
The CD accounts are part of your estate but they do not pass by your Will. Rather they go directly to the named beneficiary. Some states will permit the Executor to get a fee using these "augmented" estate items. You need to check with a tax and estate attorney for the answer in your state.
I hope this helps!
Ron Cappuccio
www.saveyourestate.com
Answered on 1/07/07, 10:21 pm
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