Legal Question in Wills and Trusts in New Jersey

Re: Executor Fees

Executor commissions are controlled by N.J.S.A. 3B:18-14 which states that on the settlement of the estate by one executor, 5% on all corpus received by the executor (called a "fiduciary" in the statute) where corpus receipts do not exceed $200,000.00, and where corpus receipts exceed $200,000.00, 5% on the first $200,000.00, 3 1/2% on the excess over $200,000.00 up to $1,000,000.00, and 2% on the excess over $1,000,000.00 or such other percentage as the court may determine on the intermediate or final settlement of the fiduciary's accounts, according to actual services rendered. You should be aware that the settlement of an Estate has many nuances of which you may not be aware. Accordingly, it is always important to contact a NJ lawyer who is experienced in this area. If you want me to assist you, feel free to call me at 856-546-8010; mention Law Guru and your first consultation will be free. Good Luck!