How much does an executor get paid in New York?

Question

Accepted Answer

Surrogate’s Court Procedure Act § 2307 sets the commission on money the executor receives and pays out: 5 percent of the first $100,000, 4 percent of the next $200,000, 3 percent of the next $700,000, 2.5 percent of the next $4 million, and 2 percent above that. A million dollars that passes through the executor’s hands is a $34,000 commission. Property that passes by beneficiary form, and a specific gift of real estate that is not sold, is generally outside that base. A will can set a different fee. The executor does not have to take it.