Legal Question in Wills and Trusts in New Jersey

Executor Percentage based on what?

My husband has performed duties as an executor of his mothers estate. We would like to know if his executor fees should be paid from the ''gross'' amount received from the sale of the home or the net proceeds after back taxes and liens have been paid after the sale of the home?


Asked on 10/04/06, 9:27 pm

2 Answers from Attorneys
Jonathan Chester The Law Office of Jonathan S. Chester, Esq., LLC

Re: Executor Percentage based on what?

Commissions are based on the gross amount.

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Answered on 10/05/06, 10:24 am
Walter LeVine Walter D. LeVine, Esq.

Re: Executor Percentage based on what?

I cocur with Jon that commissions are payable on the gross, not net, estate. I question why your husband is taking commissions (income) when if he inherited the assets he would not have to pay income taxes. I am presuming that either the estate is subject to potential inheritance and/or estate taxes (which would be minimized by the commission payment, although there is an issue of comparable tax rates to be determined), or there are a number of heirs dividing the estate, and he is getting an edge over the others. This is a legitimate question of comparable tax rates and division of the estate. More facts are needed to provide a response to the issue I have raised.

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Answered on 10/05/06, 1:05 pm


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