Legal Question in Wills and Trusts in New Jersey

Executor compensation

I have CD accounts, annuities and Money

Market fund accounts with named

beneficiaries. Are these accounts still

considered to be part of my estate and

therefore subject to compensation for the

executor of my will?


Asked on 1/07/07, 9:40 am

1 Answer from Attorneys
Ronald Cappuccio Ronald J. Cappuccio, J.D., LL.M.(Tax)

Re: Executor compensation

The CD accounts are part of your estate but they do not pass by your Will. Rather they go directly to the named beneficiary. Some states will permit the Executor to get a fee using these "augmented" estate items. You need to check with a tax and estate attorney for the answer in your state.

I hope this helps!

Ron Cappuccio

www.saveyourestate.com

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Answered on 1/07/07, 10:21 pm


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