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What is the percentage the executor gets and is it put on everything including real estate sold and monies in stocks and in the bank in New Jersey?
Many people who make out Wills forget to put what percentage they want to leave the Executor (male) Executrix (female) and legally it can't be more than 5%, at least in Canada. The average is usually 1 1/2% to 3% and if it goes to 4 - 5% then it can go before a court ruling. If the Estate is a small one then 1 1/2 - 2 1/2% of the entire Estate is reasonable and fair. If the Estate was a difficult one with stocks, bonds (off-shore accounts), properties, etc., then 3 - 5% is a reasonable request as well. If the Executor has to travel to resolve any problems or closures on properties anywhere in the world they have a right to take the money from the said Estate for traveling expenses, but MUST keep a record and receipts for any expenses they incur.
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What are the main goods produced by New Jersey?
Today, as of 2012, New Jersey has lost much of the production that existed decades previously. It is still know for some farming, including cranberries, corn, and tomatoes, but used to have many more farms than exist today. It produces pork roll, which cannot even be found very far from New Jersey. Most of the auto manufacturing in New Jersey was shut down, which used to be a major export.
What is a Jersey pound note?
A Jersey pound note is a currency issued by the States of Jersey, one of the Channel Islands. It is pegged to the British pound sterling and is used alongside Jersey coins for everyday transactions. The notes feature various local designs and historical figures, reflecting the island's culture and heritage. While they are legal tender in Jersey, they may not be widely accepted outside the island.
What was the main export in New Jersey?
tomatoes
What is a plan to satisfy southern fears that the federal government might be funded through export duties?
New Jersey Plan
What brokerage firms are based in NJ?
Several brokerage firms are based in New Jersey, including TD Ameritrade, which has a significant presence in the state. Other notable firms include Interactive Brokers, located in Greenwich, and the well-known investment management company Prudential Financial. Additionally, firms like Charles Schwab and Edward Jones have operations in New Jersey. The state's proximity to major financial markets makes it a favorable location for these institutions.
Is the executor entitled to a commission on the house in New Jersey if it is clearly left to a specific person in the will?
is the executor in new jersey entitled to a commission on a house if it was left to a specific person in the will
What fee can an executor of an estate in charge in Utah?
From LegalZoom.com Uniform Probate Code States Some states have adopted the Uniform Probate Code, including the section on how to compensate the executor of a will. In these states, no specific amount or fee is set by law. Instead, the probate code gives the probate court the discretion to determine what percentage to pay the executor, as long as that amount is "reasonable." The burden is placed on the executor to demonstrate that the monetary percentage she wants is reasonable and will not unduly deprive any of the estate's beneficiaries. As of 2011, the states that had adopted the Uniform Probate Code were Alaska, Arizona, Colorado, Hawaii, Idaho, Maine, Massachusetts, Michigan, Minnesota, Montana, Nebraska, New Jersey, New Mexico, North Dakota, Pennsylvania, South Carolina, South Dakota, Utah and Wisconsin.
Does the estate need to be opened in the state where the person died?
Not where the person physically died, but in the state in which the decedent was domiciled at his/her death. Example: Decedent was domiciled in New Jersey but died at his summer residence in Florida. The original probate should be in New Jersey. If that residence has to be sold by a duly appointed executor in Florida, ancillary probate is issued. This entails getting a certified or authenticated copy of the will that was probated in New Jersey and offering it for probate in Florida with a request that the New Jersey executor be appointed executor in Florida in order to selll the Florida property.
Is executor's fee in New Jersey before the settlement of claims against the estate or after?
It is a debt against the estate. It cannot be resolved once the estate is closed. The executor must have the courts permission to collect their bill.
In NJ can an executor sell the estate's home without the signatures of all named beneficiaries?
No, an executor cannot sell the estate home without the signatures of all involved. This isn't legal or possible in New Jersey.
Do executor fees count as income in New Jersey?
It is going to be income. Income tax will be do and the estate may have to issue a 1099.
What is the Executor fee in New Jersey?
The Executor is entitled to a fee for services performed. Under New Jersey law, the Executor of an estate is generally entitled to the following commissions: a. 6% on all estate income; b. 5% of the estate up to $200,000; c. 3.5% on excess above $200,000 up to $1,000,000; d. 2% on excess over $1,000,000 or such other percentage as the Superior Court may determine. There are different rules for commissions when there is more than one Executor, or when the Executor has rendered unusual or extraordinary services. In some cases family members may choose not to accept (waive) fees. However, a decision to waive fees should be made only after the legal (who will get the money) and tax (what is the cost of the lost deduction) issues are considered.
What is average butterfat percentage for a Jersey cow?
5.3 %
What percentage of the total US population lives in New Jersey?
2.81% of the total US population lives in New Jersey.
What insurance companies in NJ cover everything?
Geico is one Insurance company in New Jersey that has policies to cover everything. Aflec is another insurance company that you can get policies from if you live in New Jersey.
What percentage of kids in New Jersey get stressed from school?
100% its school
What percentage of new jersey do the pine barrens take up?
22%
