Administration

How Much Does it Pay to Be Executor?

A commonly asked question in both estate planning and estate administration is “How much does the executor get paid?”  In order to evaluate that question, three issues need to be addressed: (1) the statutory allowance for compensation, (2) the options in drafting compensation clauses in a Will, and (3) the effect of case law of […]

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What?! – I Can’t Amend My Irrevocable Trust?

I can’t tell you how many times I have heard this question, usually years after the irrevocable trust was signed: “You mean I can’t change the trust?” The short answer to the question is “No, an irrevocable trust is, by its terms, irrevocable and cannot be changed”. The long answer is… well, first some basics. […]

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The Types of Probate Administration

In the State of New Jersey, probate is handled by the Office of the Surrogate (also known as the Surrogate’s Court) established in each county. Unlike many states, the probate process is very simple. Filing requirements and appearances before probate judges are generally atypical. Notwithstanding, it is imperative to understand the probate process in New […]

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Special Estate Administration Issues

There are a myriad of issues that can confront an estate upon a Decedent’s death. Any professional who is attempting to assist in the administration of the estate must, at the very least, recognize how to spot these issues and to deal with them. 1. Determining the Continuation of Decedent’s Business Special issues arise when […]

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