When someone passes away, that person’s estate must be settled and his (or her) assets distributed to his beneficiaries or heirs. The executor that the decedent named in his will is responsible for the day-to-day activities of managing the decedent’s estate and ultimately distributing assets. Executors are not expected to work for free. Pursuant to section 2307 of the Surrogate’s Court and Procedure Act, executors are permitted to receive reasonable commissions for services rendered on behalf of the estate. To learn more about executor fees and fees for other fiduciaries such as trustees, contact an experienced New York executor fees lawyer at the Law Offices of Stephen Bilkis & Associates for details as to how much do executors charge in New York.
The executor is responsible for the day-to-day activities of taking care of the final affairs of a decedent, managing the property in his (or her) estate, paying estate bills, and ultimately distributing assets to the decedent’s beneficiaries. The executor performs his duties based on the terms of the will and in accordance with New York law. If the decedent passed away without leaving a will, then an estate administrator appointed by the Surrogate’s Court is responsible for managing the decedent’s estate and distributing assets to his legal heirs under the laws of intestate succession.
As an experienced executor fees attorney in the New York will explain, the details of the primary responsibilities of an executor or estate administrator include:
As an experienced New York executor fees lawyer will explain, the first place to look to determine the amount of compensation due an executor is the decedent’s will. If the will states the amount of compensation or for a waiver of fees, that is the amount of compensation that the executor is due. If the will provides for statutory fees or does not mention compensation, then the fee must be reasonable based on the complexity of the estate.
If you are an executor and have questions about the fees related to the administration of an estate, it is important that you discuss your concerns with an experienced executor fees attorney serving New York. The attorneys at the Law Offices of Stephen Bilkis & Associates have years of experience representing estate administrators, executors, beneficiaries, heirs, and other interested parties in matters related to how much do executors charge, executor fees, accountings, and other issues related to the estates. Contact us at 800-696-9529 to schedule a free, no obligation consultation regarding your case. We represent clients in the following locations: Bronx, Staten Island, Queens, Brooklyn, Long Island, Manhattan, Nassau County, Suffolk County, and Westchester County.