NY Estate Administrator Compensation

[JRMillion]

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.

 

[Y-ME]

You should be able to go to your County's Probate website. I don't know if it is the same everywhere but in MI. I believe it is between 3 -5%.

 

[anteater]

The New York City Bar website says:

The commission rate in New York for each Executor is 5% on the first $100,000 in the estate, 4% on the next $200,000, 3% on the next $700,000, 2-1/2 % on the next $4,000,000 and 2% on any amount above $5,000,000.