Legal Question in Bankruptcy in Florida

are commissions not owed yet property of the estate

i am a life insurance broker. on delivering a policy the insurance compay pays me a commission based on the initial premium payment by insured. as insured continues to make peiodic premium payments i am paid additional commissions. any additional commissions are contingent on insured continuing to make premium payments which sometimes does not happen, ie, insured cancels the policy.is my expectation to receive future commissions on most but not all issued policies sufficient to cause such future contngent commissions to be includible in property of the estate


Asked on 5/22/01, 8:29 am

1 Answer from Attorneys
Anthony Comparetto Comparetto Law Firm

Re: are commissions not owed yet property of the estate

In the Tampa bankruptcy court which includes the center portion of the state the court has held commissions not to be wages and therefore the court has taken those commissions due at the time of filing. The issue of future commission should be researched by an attorney. Sometimes you have to hit the books to know the answer.

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Answered on 6/23/01, 3:21 pm


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