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In NJ is the Executors fee based on the gross or net amount of the estate?
Gross.
Executors fee is based on a percent of what?
There is no fixed rule. Every company is different, it could be of the gross estate, it could be of the net estate, it could be of the property value. It could be anything, consult the executors
What is executors fee in settling an estate in Wisconsin?
In Wisconsin, the executor's fee for settling an estate is typically determined by the value of the estate's assets. The fee is generally set at a percentage of the estate's total value, commonly around 2-4%, but can also be based on the time and effort involved in administering the estate. Executors may also receive reimbursement for out-of-pocket expenses incurred during the process. It's advisable to consult with an attorney or follow the guidelines set by the Wisconsin Statutes for specific fee structures.
Can an estate executor pay themselves or others?
An executor of a will may be paid for work done on the estate if the will states they are to be paid. Most states will allow expenses to be paid within reason to the executor, but they must show proof.
Who determins the administrator fee of an estate in NJ?
The maximum is established by law. The executor determines the fee and gets it approved by the court.
What is the name of John Tyler's Virginia estate?
It is called Sherwood Forest Plantation. It is open to visitors for a fee.
What is a reasonable executor fee?
A fee that represents a reasonable compensation for the amount of time and effort expended by the executor. In other words... there's no specific dollar amount; it depends on the details.
What are reasonable executor's fees?
In addition to all out-of-pocket expenses in managing and settling the estate, Personal Representatives (executors) generally earn a fee of about 2% of the probate estate for their work. (This varies moderately in jurisdictions and generally decreases as a percentage as the size of the estate increases). All fees and reimbursed expenses are subject to court approval.
What if there is 2 executors Do they split the fee or do they each get 5 percent of the money?
Depends on the agreement.
In the state of NJ if there are 5 executors do they split the executor fee or is each paid a separate fee?
In New Jersey, 1% of the estate is added to the usual percentages for one executor for each additional executor. They split the total commission equally unless there is an agreement among them to split it in some other proportion. In an estate of about $100,000, the usual commission is 5% for one executor. If there are two executors, the commission would be 6%, with each entitled to 3% unless they agree to a different split. This answer is for informational purposes only and not to be taken as legal advice.
What is the estate executor fee in Arkansas?
what if the estate executor fee in arkansas
What is the fee an executor of an estate receives in Colorado?
how do you figure estate executor fee in colorado
