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.