Do executors fees include non probatable assets, if I am the benificiary?
Generally, only probate assets, those that pass through the will, are used to create the bulk of the executor fee. A very small percentage is sometimes used for non-probate assets. However, remember that the total overall fee must be “reasonable” in light of the size of the estate and the services performed. For that reason, the executor/administrator should keep a record of the time spent in administering the estate. Also, remember that the commission will be taxable income to you that you will have to pay taxes on at the federal and state level. You should retain New Jersey estate counsel to confirm these matters because these matters vary from state to state. Hope this helps. LEGAL DISCLAIMER Mr. Fromm is licensed to practice law in PA. The response herein is not legal advice and does not create an attorney/ client relationship. The response is only in the form of legal education and is intended to only provide general information about the matter within the question. Oftentimes the
