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Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 22703
Experience:  14 yrs estate law, real estate. Wills/Trusts/Probate
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How much does it cost to probate a will in NY State

Customer Question

How much does it cost to probate a will in NY State?
Submitted: 4 years ago.
Category: Estate Law
Expert:  Barrister replied 4 years ago.

Hello,

.

In the absence of any specific language stating that the Executor shall be paid $XXX dollars, in NY they revert to their default compensation:

.

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. Banks and Trust Companies may charge more for their services as Executors and Trustees, and particularly as money managers.

.

Any additional people the Executor has to employ, such as CPA's or investment advisors, are also legally allowed to be compensated by the Executor of the estate.

.

Thanks.

Matt

.

.

 

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