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Legal Fee to Executor of a Will in New York State

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Katherine Salvi

Junior Member
Thank you so much for replying so quickly. I am the executrix, and I am the daughter of the deceased. My Dad left everything to my Mother. It wasn't much, but there is some Insurance policies and IRA's. Are these monies included in the whole estate? Thanks in advance for your help.

Katherine Salvio
 

Farfalla

Member
Thank you so much for replying so quickly. I am the executrix, and I am the daughter of the deceased. My Dad left everything to my Mother. It wasn't much, but there is some Insurance policies and IRA's. Are these monies included in the whole estate? Thanks in advance for your help.

Katherine Salvio

The amount of an executor's commissions is set by law and is uniform throughout New York State. Commissions are computed on the amount of the estate administered by the executor. For amounts up to $100,000, the commission is 5%. For additional amounts up to $300,000, he commission is 4%. For additional amounts up to $1,000,000, the commission is 3%. For additional amounts up to $4,000,000, the commission is 2 1/2 %. For additional amounts above $5,000,000, the commission is 2%.

I believe that only those items that had to go through probate are subject to the fees. For example if the insurance policies listed your mom as the beneficiary the fee does not apply. Hopefully someone here will answer you in more depth on this question.
 

anteater

Senior Member
Thank you so much for replying so quickly. I am the executrix, and I am the daughter of the deceased. My Dad left everything to my Mother. It wasn't much, but there is some Insurance policies and IRA's. Are these monies included in the whole estate? Thanks in advance for your help.
Just as an added note, you can choose to waive the commissions. Remember that they will be taxable income to you.

Farfalla is correct. If the insurance proveeds and IRA pass directly to your mother as the named beneficiary, they would not be included in the base for calculation of the legally allowed commissions.
 

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