Legal Question in Wills and Trusts in New York
as the executor of a will and estate in new york state
what fee or % am I entitled to after almost 2 years of work on this.there is about $60,000 left after all the bills were paid in full.
Asked on 8/22/10, 9:43 am
2 Answers from Attorneys
Arnold Nager
Arnold H. Nager, Esquire
The commissions are set forth in the statute.
Answered on 8/27/10, 1:37 pm
Walter LeVine
Walter D. LeVine, Esq.
The commission rate in New York for each Executor is 5% on the first $100,000 in the estate, 4% on the next $200,000, 3% on the next $700,000, 2-1/2 % on the next $4,000,000 and 2% on any amount above $5,000,000. Note commkjissions are only paid on assets that pass under the Will, not assets that pass by operation of law by account designation or beneficiary designation.
Answered on 8/27/10, 7:46 pm
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