Legal Question in Wills and Trusts in New York
I am the executrix of an estate. Part of the estate includes a piece of property with a garage. This is to be split between me and 3 relatives. Can I take a fee for being the executrix.
Asked on 4/29/11, 12:06 pm
2 Answers from Attorneys
Paula McGill
Attorney at Law
It doesn't matter if you're one of the beneficiaries. You are entitled to a commission. In New York, the commission is based on the following:
5% on the first $100,000 held by the estate
4% of the next $200,000
3% of the next $700,000
2.4% of the next $4 mill.
2% of any assets above $4 mill.
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Answered on 4/29/11, 4:43 pm
Walter LeVine
Walter D. LeVine, Esq.
I agree with Paula, unless there is something in the Will that indicates you are to serve without fee. I have not read the document, so this is a general response only.
Answered on 5/02/11, 12:54 pm
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