Serving as an executor of an estate is a time-consuming and arduous task. In addition to the emotional strength required, the executor must be able to quickly digest numerous laws and responsibilities enforced by various bureaucracies and institutions. It’s a monumental task in a foreign field. Fortunately, there is help.
Along with accepting compensation for serving in the role, an executor is strongly encouraged to hire a probate attorney. An experienced probate attorney guides an executor through the process, becomes responsible for most of the difficult tasks, and helps ensure the executor satisfies all of their fiduciary responsibilities.
Probate attorney’s fees in New Jersey are paid out of the estate funds. New Jersey has not applied a statutory formula to the calculation of a probate attorney’s fees. In fact, some judges have suggested attorney’s fees based on a percentage of the estate cannot be imposed. Ultimately, in New Jersey, an appropriate estate attorney’s fee must be “reasonable” based on a multitude of factors.
The factors that a judge will look at to determine whether or not an estate attorney’s fees are reasonable or unreasonable include:
In re Bloomer’s Estate, 117 A.2d 17, 21-22 (App. Div. 1955).
As you can see, various factors influence the propriety of a probate attorney’s fees. A reasonable probate attorney’s fee should be mutually agreed to by the executor and attorney based on the division of work, nature of the estate and experience of the attorney. We will update our blog with examples of cases where probate attorney fees in New Jersey have been challenged and upheld—or reduced—as we find them!
If you have questions about probate fees in New Jersey or any other estate planning concerns contact our office for a free consultation.
Peter Klenk is the founding member of Klenk Law, a seven attorney boutique estate planning law firm. We serve clients in Pennsylvania, New Jersey, New York, Minnesota and Florida. Peter Klenk received his Masters in Taxation LL.M. from NYU Law School and his J.D. from the University of Minnesota Law School. He served his country in the Navy JAGC during Desert Storm. Easy to talk to, feel free to call Peter for an appointment. We will make the process as easy as possible!
"I worked for Peter Klenk for 4 wonderful years. I can’t speak highly enough of everyone at the firm. Everyone truly cares about their clients and has a strong sense of responsibility to get things done right. I would highly recommend Klenk Law!"
Flora Novick
Peter Klenk made a complex subject understandable and allowed us to move forward with our estate planning. He was patient with our questions and creative in the solutions he proposed.
You & your staff are the best thank you for everything.
Peter and his staff are very responsive and always willing to help my clients and in a cost efficient manner.
Peter explained a complex subject very clearly, helped us to decide the best approach to managing our estate and then made it very easy for us to execute the required documents. He will be a valuable resource for years to come and clearly has a great understanding of estate law that will lead to innovative solutions for us. I would unhesitatingly recommend him for estate planning.
Very knowledgeable! Peter Klenk always has a thorough answer, and the associates have more experience than you'll find at most firms. They really only do estate work.
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