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Is An Executor Entitled To Commissions

In New Jersey, an Executor is entitled to commissions based upon the size of the estate. The commissions are 5% of the first $200,000, 3.5% of the next $800,000 and 2% on the amount greater than $1 million. If there is more than one Executor, the commissions are increased -- but have to be shared among the Executors.

In New York an Executor is entitled to commissions based upon the size of the estate according to the following schedule:

  • 5% of the first $100,000
  • 4% for the next $200,000
  • 3 for the next $700,000
  • 2.5% for the next $4,000,000
  • 2% for all amounts over $5,000,000

Executor commissions must be included as earned income on the Executor’s personal income tax return in the year received. Executors may waive their commissions if they choose to. If Executor commissions are taken, they are deductible by the Estate either as an estate tax deduction or an income tax deduction.

The Law Office of David K. Whitlock is located in Paramus, New Jersey. We provide estate planning and estate administration services to clients in New Jersey cities that include Alpine, Englewood Cliffs, Hoboken, River Vale, Tenafly, Haworth, Hawthorne, Wayne, Ridgewood, Glen Rock, Saddle River, Upper Saddle River, Allendale, Ho-Ho-Kus, Wyckoff, Franklin Lakes, Fair Lawn, Kinnelon, Ramsey, Waldwick, Oradell, Westwood, River Edge, Woodcliff Lake, Montvale, Oakland, Elmwood Park, Saddle Brook, Maywood, Hackensack, Teaneck, Englewood, Fort Lee, Mahwah, Alpine, Englewood Cliffs, Hoboken, River Vale, and Edgewater, NJ. We represent clients in New Jersey counties that include Bergen County, Passaic County, and Morris County. We represent clients throughout the New York City area including Manhattan, the Bronx, Brooklyn, Queens, Staten Island, New City, Monroe, and Warwick. We represent clients in New York counties that include Rockland County, Orange County, NY, Suffolk County, Nassau County and New York County.

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