Legal Question in Wills and Trusts in New Jersey

Re: if there is more than one executor ,5 to be exact

Mr. Roth's "answer" was wrong [and the 'plug' for his book was truly in bad form on this type of website].

I believe you were asking what the executor's commission would be on a $4M estate. In NJ, the commission is fixed by statute. The rate is 5% on the first $200K, 3.5% on the next $800K and 2% on amounts over $1M. The executors typically would split this amount among themselves (it need not be an equal division). In addition, each additional executor is entitled to 1% on the total fund.

There is also a 6% commission on income earned by the estate.

Re: if there is more than one executor ,5 to be exact

Executors are not entitled to anything. Beneficiaries are. Your question is a non-sequitor.

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