By Fredrick P. Niemann, Esq. of Hanlon Niemann, a Freehold, NJ Guardianship Attorney
Questions often come up concerning compensation available to a Guardian if appointed by the Superior Court of New Jersey. The following blog discusses the commission schedule which a Guardian is entitled to receive under New Jersey Law. It is as follows:
(1) One half (1/2%) percent (.5) on the total value of the corpus each year; corpus is defined as the economic fair market value of all property owned by the incapacitated
(2) Six (6%) percent of all income received annually; if $100,000.00 of income is received the Executor’s commission is six (6%) percent.
(3) Upon the termination of the Guardianship caused by restoration to full functioning or death of the Ward; the Guardian is entitled to a two (2%) percent termination commission on the total value of the entirety of the incapacitated estate.
I hope that this helps you get a better idea of the economic compensation scheduled for Guardians who serve in New Jersey.
To discuss your NJ Guardianship matter, please contact Fredrick P. Niemann, Esq. toll-free at (855) 376-5291 or email him at email@example.com. Please ask us about our video conferencing consultations if you are unable to come to our office.