New Jersey  |  Wills and Trusts

Legal Question

Asked on: 12/01/11, 9:07 am

I'm an Executor of my sister's estate (NJ, Camden County) and I am about to zero out the estate by taking the executor's fee (less than what I have rights to because the estate balance won't cover the full 5% at this point). I've paid expenses to keep my sister's condo on the market (short sale most likely and the last asset to be liquidated). If I close the estate accounts by taking my admin. fee, do I need to have a formal accounting done? I have kept a log of every expense I paid with the estate funds and can produce answers for each expense.

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