Legal Question in Wills and Trusts in New York

Re: executor fee

Fee is based on a percentage of property transferred under the will.

Under SCPA 2307, the commission is as follows:

(a) For receiving and paying out all sums of money not exceeding $100,000 at the rate of 5 percent.

(b) For receiving and paying out any additional sums not exceeding $200,000 at the rate of 4 percent.

(c) For receiving and paying out any additional sums not exceeding $700,000 at the rate of 3 percent.

(d) For receiving and paying out any additional sums not exceeding $4,000,000 at the rate of 2 1/2 percent.

(e) For receiving and paying out all sums above $5,000,000 at the rate of 2 percent.

Mike.