Legal Question in Wills and Trusts in New Jersey

executors fees in nj

if there 5 executors on a very large estate, over $4,000.000 does each executor receive a 2% fee or is it a collective fee?


Asked on 1/26/08, 8:16 pm

2 Answers from Attorneys
Phillip Lemmons, Esq. Phillip Lemmons APC, Attorneys at Law

Re: executors fees in nj

I am not sure how they do it in NJ, but in California the fee is based on the value of the estate, not the number of executors.

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Answered on 1/27/08, 4:11 pm
Mitchell Roth MW Roth, Professional Law Corporation

Re: executors fees in nj

That is a question that depends on the law of the State. If the probate is in CA or in NJ or whatever. Sometimes there are multiple probates. Also, just because a will nominates 5 doesn't mean five will be appointed. Most States provide a percentage on a graduated basis for the role of the executor. These cover all but extraordinary fees which can and do develope. Then the executor(s) must apply to the court for an order permitting the payment of additional fees.

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Answered on 1/27/08, 5:03 pm


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