Legal Question in Wills and Trusts in New Jersey

I am executrix for my mother's estate. She passed away in October 2008. The house she owned has recently sold, and I will be finalizing paperwork and distributing assets. There were three children, including myself. Can you tell me what the executor's fee would be for an estate worth $811,000.00 as per the US Estate Tax Return in the state of New Jersey.

Thank you


Asked on 6/24/11, 4:06 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

An executor is allowed 6% of income and commissions on a sliding scale on assets. 5% of first $200,000 and 3-1/2% on assets between $200,000 and $1,000,000. Thus on $811,000, the commission would be $31,385.

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Answered on 6/24/11, 11:00 am


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