Legal Question in Wills and Trusts in New Jersey

LLC assets being added to estate

On the advise of a NJ attorney most of my dad's assets were put into a partnership LLC, with myself and 2 sister's equal partners. After my dad died in NJ, the sister who had POA for my dad and had gotten the LLC set up came up with a new will making her the new executrix. This was in July 2007. she then informed us that she was taking her legally allowed executor fee which was almost 15,000 dollars. Since there should have been only a few thousand dollars in my dad's name we assumed she could not take this large fee. We are closing the LLC and have received the books from this sister after formally requesting to see them. She clearly

shows in the books that she did pay herself the executor's fee. Can she legally do this?


Asked on 5/29/09, 8:21 pm

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

Re: LLC assets being added to estate

Your Dad's ownership interest in the LLC is an estate asset and is includible in his estate that passes under the Will. The value of this interest can be used to take a commission. More facts are needed for a complete reply, such as who signed the new Will, what assets were placed in the LLC, what was Dad's share of the LLC and the value of the share? It is unusual for a sibling Executor to take commissions, but unless the Will said no commissions were to be paid, what she did seems to be legal.

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Answered on 5/31/09, 2:25 pm


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