Legal Question in Wills and Trusts in New Jersey

Re: Executor Fee In the State of NJ

The statutory fee is not a flat 5%. It is 5% on the first $200,000; 3.5% on the next $800,000; and 2% over $1,000,000.

It's a little unusual for an executor to agree to serve for free, and I dn't think a court would necessarily deny him/her a reasonable fee.

Unless he/she specifically agreed to act without any compensation, I believe the executor will be entitled to the statutory fee.

Re: Executor Fee In the State of NJ

The question is unclear. Is the executor appointed, to serve in that capacity without fee, or does the fee language just refer to the sale of property? If the former, he cannot charge a fee. He can also refuse to accept the appointment based upon serving without fee. Hopefully, the fee issue was worked out in advance (before the death and appointment), since the executor can reject the appointment. If rejected, the successor named can be a replacement, and I am presuming the Will also states he/she is to serve without fee. If no one offers to serve, the Court can appoint someone, but the court appointee could be directed to charge a fee. This is always a touchy problem if the Will is unclear and the person entitled to be appointed has not been informed of the fee limitation. Of course, if the executor is a close family member, fees are usually waived. If the language in the Will only refers to the fee as pertaining to the sale of property, and is not clear as to the other services of an executor, a fee could be charged on the other services. The fees for an executor are on a sliding scale, depending upon the size of the probate estate, starting at 5% and scalling down as the estate value gets larger.