Legal Question in Wills and Trusts in New Jersey
What & is the fee or commission if there are 2 executors?
Asked on 10/26/11, 1:49 pm
1 Answer from Attorneys
Walter LeVine
Walter D. LeVine, Esq.
Subject to approval by the Court, the current law is 5% of the first $200,000, 3-1/2% on the enxt $800,000 and 2% on the excess over 1 million. Add a flat 1% for each additional Executor. If there are more than 1 Executor, no single Executor can make more that a single commission, so if there are more than one, who does all the work, the Executor's fees can be increased by 1%, but the working Executor cannot get more than the base commission.
Answered on 10/26/11, 2:20 pm
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