Bloomfield, NJ asked in Probate for New Jersey

Q: When calculating executor commission, do you count only probate assets or also non probate assets with designated benef?

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1 Lawyer Answer
Derek John Soltis
Derek John Soltis
  • Probate Lawyer
  • Jersey City, NJ

A: Tricky question. The key phrase if you dig into the law is "taken in by the executor." A non-probate asset may end up in the executor's hands. So a non-probate asset designated in a poor way may have to be probated. (Example: 401k beneficiary names a dead sibling. No secondary beneficiary may end up in the probate assets.) At the end of the day, you may want to have a probate attorney review what you are doing as an executor to say yes or no.

Sorry if it sounds like I am running up the estate bills, but you are asking for free legal advice in an open forum. It is like me asking a plumber how to correctly vent sewer gas from a basement after an illegal bathroom was put in. Things went wrong, I want to fix it, and I expect a professional to get me advice for free, but without knowing everything going on, you can't even guess at the crazy crap that could have happened.

One last comparison as a hypothetical, 8magine as an attorney I had a guy have his brother-in-law from VA help him rewire his house. They used the wrong gauge wire through out the house. Inspector comes, looks at it and says it all has to be pulled out. Guys in law pulls the wire out of the wall an d adds 1/2 foot of the correct gauge spliced in. House passes inspection. My firm refuseses to represent at the sale.

So tell me how o calculate the commission on a home that burns w

You can not account for everything..... in answering a question

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