Legal Question in Wills and Trusts in New York

calculate executor fee

can you please tell me how to calculate the executor fee in the State of New York? Also, is the percentage calculated on funds that include money that was in a joint savings account set up by the deceased? Or are joint assets excluded from the calculation?

Thank you


Asked on 7/24/06, 4:15 pm

1 Answer from Attorneys

Arnold Nager Arnold H. Nager, Esquire

Re: calculate executor fee

a) For receiving and paying out all sums of money not exceeding $ 100,000 at the rate of 5 percent.

(b) For receiving and paying out any additional sums not exceeding $ 200,000 at the rate of 4 percent.

(c) For receiving and paying out any additional sums not exceeding $ 700,000 at the rate of 3 percent.

(d) For receiving and paying out any additional sums not exceeding $4,000,000 at the rate of 2 1/2 percent.

(e) For receiving and paying out all sums above $5,000,000 at the rate of 2 percent.

Jointly held property does not pass through the estate.

Read more
Answered on 7/24/06, 8:49 pm


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in New York