Legal Question in Wills and Trusts in New York
What compensation can one expect for being an executor of a will?
3 Answers from Attorneys
You can calculate your executor's commission using my calculator. http://www.nycprobate.com/executor_fee.html
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Executor's Commissions Section 2507 Surrogate's Court Procedure Act
Except as otherwise provided in paragraph (f) of this subdivision
on the settlement of the account of any fiduciary other than a trustee
the court must allow to him the reasonable and necessary expenses
actually paid by him and if he be an attorney of this state and shall
have rendered legal services in connection with his official duties,
such compensation for his legal services as appear to the court to be
just and reasonable and in addition thereto it must allow to the
fiduciary for his services as fiduciary, and if there be more than one,
apportion among them according to the services rendered by them
respectively the following commissions:
(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.