Legal Question in Wills and Trusts in New York
salary for executer
Are all executors entitled to a fee? Even if they are family members?
Asked on 12/15/08, 12:22 pm
1 Answer from Attorneys
Walter LeVine
Walter D. LeVine, Esq.
Re: salary for executer
Unless there is something in the Will covering fees, all Executors, related or unrelated, are entitled to fees. Fees are considered self-employment income, but are exempted from social security taxes. Fees can be waived by family members and usually are, but need not be. For death tax purposes, taking fees may be a good idea.
Answered on 12/15/08, 12:31 pm