Google Answers Logo
View Question
Q: New Jersey estate law ( Answered 5 out of 5 stars,   0 Comments )
Subject: New Jersey estate law
Category: Business and Money
Asked by: terryo-ga
List Price: $2.00
Posted: 17 Jul 2002 09:54 PDT
Expires: 16 Aug 2002 09:54 PDT
Question ID: 42176
How much can the executor of a $250,000 estate in New Jersey get paid
for his services?
Subject: Re: New Jersey estate law
Answered By: weisstho-ga on 17 Jul 2002 12:38 PDT
Rated:5 out of 5 stars
Thanks for visiting us and trusting us with your important question.

The answer is:  The commissions that may be paid to an executor
(executrix) in New Jersey are (1) whatever the will (if any) directs,
or in the absence of such direction a “commission” which in a $250,000
estate would be $11,750 plus 6% of any income received by the estate.

In New Jersey, an executor is appointed under the terms of the last
will and testament. An administrator is appointed by a court when the
decedent does not leave a will, or did not appoint a executor who is
able and willing to serve. Both an executor and an administrator can
also be referred to as a "personal representative".

The personal representative is entitled to retain an attorney to
assist with his or her responsibilities. The personal representative
is entitled to pay the attorney a reasonable fee from the assets of
the estate.

The personal representative is entitled to receive compensation.
Unless the last will and testament directs otherwise, the personal
representative receives "commissions", which are computed as a
percentage of both the principal assets of the estate, and a
percentage of the income.

In New Jersey, the principal commissions are:
        5 percent of the first $200,000 of principal assets, plus
        3 1/2 percent of the next $800,000 of principal assets, plus
        2 1/2 percent of the remaining principal assets.

The principal commissions are only computed on the assets passing
under the will.

The income commissions are 6 percent of all income received during the
estate administration.

Thanks to the Pritchard Law Firm for this information:

Thanks for visiting the Google Answers Site!


Search Terms Used:
"New Jersey" executor fees
terryo-ga rated this answer:5 out of 5 stars
I am very pleased with the rapid response to my question.

There are no comments at this time.

Important Disclaimer: Answers and comments provided on Google Answers are general information, and are not intended to substitute for informed professional medical, psychiatric, psychological, tax, legal, investment, accounting, or other professional advice. Google does not endorse, and expressly disclaims liability for any product, manufacturer, distributor, service or service provider mentioned or any opinion expressed in answers or comments. Please read carefully the Google Answers Terms of Service.

If you feel that you have found inappropriate content, please let us know by emailing us at with the question ID listed above. Thank you.
Search Google Answers for
Google Answers  

Google Home - Answers FAQ - Terms of Service - Privacy Policy