Legal Question in Wills and Trusts in New York

The executor's commission is statutory unless specifically set out in the will.

Under Surrogate�s Court and Procedure Act (SCPA) � 2307 an executor is entitled to a commission rate of 5% on the first $100,000 in the estate, 4% on the next $200,000, 3% on the next $700,000, 2-1/2% on the next $4,000,000 and 2% on any amount above $5,000,000.

NEW YORK

1225 Franklin Avenue

Suite 325

Garden City, NY 11530

And yes, if ther are 2 executors they split the percentage. You are not allowed to take double the amount set forth under the SCPA.

Mike.

In New York, Executor commissions are set out by statute. Surrogate�s Court and Procedure Act (SCPA) � 2307 provides that a fiduciary other than trustee is entitled to a commission rate of 5 percent on the first $100,000 in the estate, 4 percent on the next $200,000, 3 percent on the next $700,000, 2-1/2 percent on the next $4,000,000 and 2 percent on any amount above $5,000,000. Executor commissions are in addition to the reasonable and necessary expenses actually paid by the Executor.