Serving as an agent (or Attorney in Fact) with power of attorney in New Jersey is a decision that comes with great power and responsibility. The agent must act on the principal’s behalf and will be held to the highest standard of loyalty and duty under New Jersey law. For serving, agents are almost always authorized to receive some form of compensation. Exactly how much are agent with power of attorney fees in New Jersey? This is a question both principals and agents frequently ask.
In this relationship, the principal sets the terms. If the document has not been drafted, the principal can state the compensation (such as a specified hourly rate), provide a flexible term (such as “reasonable”), or specify that the agent is to receive no compensation at all. If the power of attorney in question has not been drafted, the above and many more compensation terms are possible with the help of an experienced New Jersey estate planning attorney.
More often then not, people ask this question after the fact. If the power of attorney has been signed, the first place to look is the document. There is almost always a clause stating how the agent is to be compensated. In most cases, the principal provides for flexible compensation, such as “reasonable.” This provides the flexibility in the case the Agent has to do extraordinary work, such as managing all the principal’s affairs while in a coma, all the way to simple actions, such as paying the mortgage while the principal is traveling abroad.
In New Jersey, if the principal has not specifically stated the compensation, the agent is not entitled to a fee without the appropriate Court’s approval. The agent can apply for, and the court may award “reasonable” compensation-but is not required to do so. “Reasonable” is a difficult standard to nail down, as judges’ opinions differ based on county and circumstance. We will provide examples of what reasonable looks like as new opinions are published on our blog.
If you have questions about agent and power of attorney fees in New Jersey or any other estate planning concerns contact our office for a free consultation.
New Jersey Estate Administration Fees
- Overview
- NJ Probate Attorney Fees
- NJ Executor Fees
- NJ Trustee Fees
- NJ Agent & Power of Attorney Fees
- NJ Guardianship Fees
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!
Free Consultation
Client Review
"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
Areas Served:
Philadelphia PA, Allentown PA, King of Prussia PA, Montgomery County PA, Bucks County PA, Doylestown PA, Jenkintown PA, Marlton NJ, Moorestown NJWhat Our clients are saying
Susan W.
Tremendous firm with bright, kind and tenacious people. Great representation for our family.
Chris Curcio
Fantastic customer service. Very personable and most importantly they provide great explanations of what is required based on your individual needs. Highly recommend Klenk Law for anyone that needs to create a will and estate documents.
Nafeesha. B
When it came down to picking the right attorney to handle my affairs, I knew right away it was this firm. From speaking to their secretary to speaking to Peter I knew I was making the right decision. After only a few mins Peter knew right away what I was looking for and handled all my questions professionally and even gave me great feedback that put my mind at ease. All that without even giving a single penny! So of course I hired him! So far so good...
Anna B.
Professional, cheerful, thorough and fast. Peter responded to my request for a consultation right away, and within just a few days my last will and living will were done. Rates are standard.
Chantee C.
Peter recently gave a presentation about Wills & Trusts at my employer, and it was fantastic! He was extremely knowledgeable and provided valuable information to the group. People were very engaged and asked several questions, all of which Peter thoroughly answered. Personally, my husband and I have selected Peter to help us with our estate planning, and he has been very helpful in providing us with all of the information we need to provide a secure future for our family. Thank you, Peter!
Let us put our expertise to work for you.
Free consultation within 24 hours.
