Legal Question in Wills and Trusts in New York

Attorney & executor's fees for decreased estate value
I am the sole beneficiary of my father's estate. The probate property includes a coop that sold for $275k and a brokerage account valued at $225k at time of death. It is now about 17 months since his death and I am still waiting for the final accounting (the coop was just sold a month ago). However, the value of the brokerage account (composed mostly of stocks) has gone from $225k to about $100K due to the market crash (neither the executrix nor the attorney ever advised me it was composed mostly of stocks).

My questions is whether the executor's and attorney's fees (both based on SCPA act 2307, I believe) will use the time of death valuation of about $500K, or the current valuation of about $375K (a difference in fees of about $5k each, I think)?

Asked on 3/12/09, 12:01 pm

Norman Nadel Norman Nadel, Esq.

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Re: Attorney & executor's fees for decreased estate value

Actually, you should be more concerned about seeking a recovery from the executor for not minimizing the losses.

Answered on 3/12/09, 12:14 pm

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