Legal Question in Wills and Trusts in New York
My uncle died and in his will he designated my cousin executor. My cousin died 2 years ago. I have been asked to be executor. How much will I be compensated to do this (IN New York-Rockland County)? I am not in my uncle's will and his estate is worth approx. $400,000.
4 Answers from Attorneys
Unless the will states otherwise, 5% of first $100,000, 4% of next $200,000 and 3%of balance.
Retain counsel familiar with probate, such as I. I used to live in Rockland County and have a
NY office .
You would be entitled to commissions as set by New York Statute. On my web site - http://www.nycprobate.com - you will find an Executor's Commission calculator you may use to estimate whot you would be entitled to.
I agree with the other authots.
It works out to approximately $16,000 on $400,000.
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