Great for lawyers’ image when that happens: “A New York surrogate court judge has approved a $91,000 payment to an estate executor, despite a provision in the decedent’s will prohibiting commissions to anyone.”
Great for lawyers’ image when that happens: “A New York surrogate court judge has approved a $91,000 payment to an estate executor, despite a provision in the decedent’s will prohibiting commissions to anyone.”
5 Comments
Seems fair enough.
Just how did the cheapskate think that his 7 million dollar estate would be handled? Having apparently made no provision for an executor to work for free during his lifetime, he did leave a judge to sort that out after his death. He was going to subject his family to inherent delays inherent in insisting on the lowest bidder be one willing to work for free.
I suppose that one can write all sorts of conditions into a will, but having them followed depends on their grounding in both law as well as reality.
What would have happened to the estate if the prohibition was enforced? Would it have gone to the next-in-line (siblings, grandchildren)? The state?
Why not include a provision that the executor must pay a 5% fee to the estate?
Ah! You write a will that obliges others to work for free? Why should anyone make efforts per your wishes when you are dead?
Answer: Because I want them to! Waah!!!
Inheritance administration is just a procedure the government insists upon. To not like it is as effective as telling the police you don’t like traffic laws.
Did the executor in some way have a hand in drafting the will? And surely with this kinds of money changing hands the person who drafted the will also advised his or her client about the inclusion of a trust(s), right? Oh wait, the attorney representing the executor said they were close friends…I wonder what he means by “close friends.” Drafting up estate documents has to have foreseeable consequences which may suggest, by virtue of the clauses, complexity, etc…how much of a pain in the butt it will be upon departure. Something seems fishy. It’s almost as though (almost) this guy had a hand in writing himself a salary.