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If 2 family members administer an estate with no will in NYC, is the amount of their fee set by NY statute?


A family member died without a will (intestate). There are no offspring and her parents predeceased her. She had 3 siblings, 1 who survived her & the other sibs each had offspring. A nephew and niece from the 2 deceased siblings administered the estate. They want everyone to sign off on the final papers. Included is a very large amount for administering the estate. (They also had a lawyer advising them who is also getting some money for a fee although not as much as each of them.) The amount listed is a percentage of the estate and seems quite large. Is the amount that they are asking to be paid determined by New York State statute? Is there a place online where this is stated? (In addition they are getting some of the estate as beneficiaries of the estate.) Thank you for any informed advice that you can give us.

Here is some information:
http://www.abcny.org/Publications/execut...

It is about executors, though, and it says "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."

I think it should be similar for administrators of an estate when there is no will.

GET AN ATTORNEY!

The court has to approve of the fees so it would definitely be a good idea to have an attorney to OPPOSE any motion for fees.

I'd pay an attorney to get advice if I were you. Trust absolutely no one in an estate situation, not the trust company, someone else's attorneys, or the family. I've liquidated belongings in estates before and they will ALL steal from the estate (trust co. employees, attorneys, everyone involved), blatantly and out in the open. It's very commonplace. Estates bring out the worst in people.

Here's some info about NY and having no will:
http://research.lawyers.com/New-York/Est...

But I think it would serve you well to pay for advice from an attorney.

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