State: New York
My two sisters and I are about to start dealing with my late Father's estate. One sister and I are going to be co-administrator, as my Father did not have a current will.
The sister I am Administering with wants to be compensated for the time she spend on this, while myself and my other sister think that notion is in very very poor taste as we have all been chipping in large amounts of time for one task or another.
We have learned that in NY there is a law that the Administrator(s) have the option to take a flat fee as compensation from the estate before it is split up.
I know the % of compensation is a sliding scale, but I am trying to find out more information. Specifically what % we are talking about here...
Anyone know where I could find this scale/chart?
Thanks very much.
My two sisters and I are about to start dealing with my late Father's estate. One sister and I are going to be co-administrator, as my Father did not have a current will.
The sister I am Administering with wants to be compensated for the time she spend on this, while myself and my other sister think that notion is in very very poor taste as we have all been chipping in large amounts of time for one task or another.
We have learned that in NY there is a law that the Administrator(s) have the option to take a flat fee as compensation from the estate before it is split up.
I know the % of compensation is a sliding scale, but I am trying to find out more information. Specifically what % we are talking about here...
Anyone know where I could find this scale/chart?
Thanks very much.