2006 New York Code - Commissions Of Fiduciaries Other Than Trustees



 
  § 2307. Commissions of fiduciaries other than trustees
    1.  Except  as otherwise provided in paragraph (f) of this subdivision
  on the settlement of the account of any fiduciary other than  a  trustee
  the  court  must  allow  to  him  the  reasonable and necessary expenses
  actually paid by him and if he be an attorney of this  state  and  shall
  have  rendered  legal  services  in connection with his official duties,
  such compensation for his legal services as appear to the  court  to  be
  just  and  reasonable  and  in  addition  thereto  it  must allow to the
  fiduciary for his services as fiduciary, and if there be more than  one,
  apportion  among  them  according  to  the  services  rendered  by  them
  respectively the following commissions:
    (a) For receiving and paying out  all  sums  of  money  not  exceeding
  $100,000 at the rate of 5 percent.
    (b)  For  receiving  and  paying out any additional sums not exceeding
  $200,000 at the rate of 4 percent.
    (c) For receiving and paying out any  additional  sums  not  exceeding
  $700,000 at the rate of 3 percent.
    (d)  For  receiving  and  paying out any additional sums not exceeding
  $4,000,000 at the rate of 2 1/2 percent.
    (e) For receiving and paying out all sums above $5,000,000 at the rate
  of 2 percent.
    (f) If the will makes provisions for  specific  rates  or  amounts  of
  commissions  for  a  corporate executor, or, if a corporate executor has
  agreed to accept specific rates or amounts of commissions,  or,  if  the
  will  provides  that  a  corporate executor shall receive commissions as
  provided or stipulated in the corporate executor's published schedule of
  fees in effect at such time or times such  commissions  become  payable,
  including a stipulated minimum commission and asset base for calculating
  such   commissions,  a  corporate  executor  shall  be  entitled  to  be
  compensated in accordance with such provisions, agreement  or  schedule,
  as  the  case may be, even though such provisions, agreement or schedule
  are not executed in accordance with the provisions  required  for  wills
  and  are  not  attested  as  required for the recording of deeds in this
  state.
    Such commission shall be computed separately  for  receiving  and  for
  paying  out sums of money, at one-half the statutory rates for receiving
  and at one-half the statutory rates for paying out sums of money.
    2. The value of any property, to  be  determined  in  such  manner  as
  directed  by  the court and the increment thereof, received, distributed
  or delivered, shall be considered as money in computing commissions. But
  this shall not apply in case of: (a) a specific legacy or devise; or (b)
  the recovery of awards from the September eleventh  victim  compensation
  fund of two thousand one established pursuant to title IV of the federal
  air  transportation  safety  and  system  stabilization  act, public law
  107-42, as amended, which awards shall be valued at zero for purposes of
  this section. Whenever any portion of the dividends,  interest  or  rent
  payable  to  a  fiduciary other than a trustee is required by any law of
  the United States or other governmental  unit  to  be  withheld  by  the
  person  paying  it for income tax purposes, the amount so withheld shall
  be deemed to have been received and paid out.
    3. In addition to the compensation hereinbefore provided the court may
  allow to the guardian of the person a sum of money to be fixed by it and
  paid by the guardian of the property out of the funds in  his  hands  as
  compensation  for  services of the guardian of the person up to the time
  of the allowance.
    4. If a guardian is required to receive income and  pay  it  over  and
  files  an  annual  account  as  required by 1719 of all his receipts and
  disbursements, he shall be allowed and may retain the same commission on

the amount of income so accounted for as he would be allowed upon principal on a judicial settlement. If the guardian fails to file an annual account as required by 1719 the guardian, notwithstanding his failure to retain in full each year the commissions on income herein prescribed, may be allowed upon the judicial settlement of his account any commissions due and theretofore uncollected by him provided that on such settlement there is then on hand income sufficient for that purpose derived from the estate during the respective years for which further commissions are claimed. If the income on hand for any given year is insufficient to pay the uncollected commissions on the income of that year the deficiency shall not be supplied from income on hand in respect of any other year. 5. Subject to 2313 regarding multiple commissions of executors or trustees under wills of persons dying, or lifetime trusts established, after August 31, 1993, if the gross value of the principal of the estate accounted for amounts to $300,000 or more each fiduciary is entitled to the full compensation on principal and income allowed herein to a sole fiduciary unless there be more than 3, in which case the compensation to which 3 would be entitled must be apportioned among them according to the services rendered by them respectively unless the fiduciaries shall have agreed in writing among themselves to a different apportionment which, however, shall not provide for more than one full commission for any one of them. If the gross value of the principal of the estate accounted for is: (a) less than $100,000 and there is more than 1 fiduciary the full compensation for receiving and paying out principal and income allowed herein to a sole fiduciary must be apportioned among them according to the services rendered by them respectively, or (b) $100,000 or more but less than $300,000 each fiduciary is entitled to the full compensation for receiving and paying out principal and income allowed herein to a sole fiduciary unless there are more than 2 fiduciaries in which case the full compensation for receiving and paying out principal and income allowed herein to 2 fiduciaries must be apportioned among them according to the services rendered by them respectively, unless the fiduciaries shall have agreed in writing between or among themselves to a different apportionment which, however, shall not provide for more than one full commission for any one of them. Where the will provides a specific compensation to a fiduciary other than a trustee he is not entitled to any allowance for his services unless by an instrument filed with the court within 4 months from the date of his letters he renounces the specific compensation. Where successive or different letters are issued to the same person on the estate of the same decedent, including a case where letters of administration are issued to a person who has previously been appointed a temporary administrator, he is entitled to a total compensation equal to the compensation allowed for the full administration of the estate by a fiduciary acting in a single capacity only. Such total compensation shall be payable in such proportions and upon such accounting as shall be fixed by the court settling the account of the person holding successive or different letters but no paying out commissions shall be allowed except upon such sums as shall actually have been paid out at the time of the respective decrees for debts, expenses of administration or to beneficiaries. 6. Where a fiduciary is for any reason entitled or required to collect the rents of and manage real property he shall be allowed and may retain for such services 5 per cent of the gross rents collected therefrom in addition to the commissions herein provided, but there shall be only one
such additional commission regardless of the number of fiduciaries. In the event there are 2 or more fiduciaries the additional commission herein provided for must be apportioned among them according to the services rendered by them respectively unless they shall have agreed in writing among themselves to a different apportionment. 7. A fiduciary other than a trustee who has been acting prior to July 1, 1956 shall be entitled to have commissions on principal and income theretofore received by him computed, allowed and paid under the methods and at the rates set forth herein, except as follows: (a) If prior to July 1, 1956 a fiduciary other than a trustee has been allowed or has retained commissions for receiving and paying out any item of principal or income he shall be entitled to no further commissions on the item. (b) If prior to July 1, 1956 a fiduciary other than a trustee has been allowed or has retained any commissions on any item of principal or income received but not paid out by him he shall be entitled to no further commissions for receiving the item.

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