Legal Question in Wills and Trusts in New York

Re: Fee For Executor

The statute can be checked on line, and is based upon a sliding scale, depending upon the value of the probate estate (those assets that actually are controlled by the Will). Probate assets do not include jointly registered assets or assets that have a designated beneficiary, which pass based upon the registration/beneficiary and are not covered by the Will. Keep in mind there are 2 types of estates, taxable (which includes all assets owned by the deceased regardless of whether or not they pass by the terms of the Will) and probate assets (those covered by the Will).

Re: Fee For Executor

It is a sliding scale set forth in the Surrogate's Court Procedure Act. It starts at about three (3) percent of the estate.