Under New Jersey Law, You Are Entitled To Payment For Services Rendered As A Fiduciary

Did you know that, under New Jersey law, you are entitled to receive compensation for services rendered as a fiduciary, such as an Executor, Administrator, Trustee, Guardian, Agent under a Power of Attorney and Conservator? Well, you are. Any compensation paid to a fiduciary in New Jersey is called a “commission”.  The amount of any commission you may claim depends upon the nature of the appointment, i.e., the type of fiduciary you are, and the value of the estate or assets which you are managing. The computation of fiduciary commissions is a tricky calculation. Therefore, I was happy when I was asked to speak on the issue of “calculating fiduciary commissions” at the 61st semi-annual  Tax and Estate Planning Forum sponsored by the Institute of Continuing Legal Education earlier this month. To learn more about how to calculate fiduciary commissions, see the paper I prepared for and presented at the forum, which is annexed here –  ICLE Tax and Estate Planning Forum – Fiduciary Commissions