What are the laws regarding executor fees in different states?

What are the laws regarding executor fees in different states?

Executor fees vary by state, but they are generally based on a percentage of the estate's value or a flat fee. Would you like to know about a specific state?

Yes, can you tell me about California?

In California, executor fees are typically calculated as 4% of the first $100,000 of the estate, 3% of the next $100,000, and 2% of the next $800,000. Do you need information on another state?

What about New York?

In New York, the executor fee is generally 5% of the first $1 million of the estate, with a sliding scale for larger estates. Would you like to know more about how these fees are determined?

Yes, how are these fees justified?

Executor fees are justified as compensation for the time and effort spent managing the estate, including tasks like settling debts and distributing assets.