Legal Question in Wills and Trusts in New York
I am a beneficiairy of an NY estate in which 2 Executors received 2.5% commission. Then Final accounting was signed and contracts stating all business will now go through the trust at 1% commission for both Executors/Now trustees. After trust is opened a tax refund from an estate matter was issued but is not distributed because of the ongoing disagreement with the trustees. One insists on the 2.5% commission and the other insists on the 1%. Although all business is now going through the trust but I just discovered that the estate is still opened because of another balance of funds they fighting over distributing. Which commission should be granted?
1 Answer from Attorneys
That's an interesting fact pattern and a great followup question. Unfortunately however there is no clear and unambiguous answer in the law to the question you are asking. I understand you are looking for a definitive and certain answer; I get it. Nevertheless the fact is that many legal questions and situations do not have black and white answers; there are many shades of grey in the law. You are really asking a question which would be decided by a judge. Both sides have good and reasonable arguments to claim what they believe is the proper commission. The parties can either come to a compromise, or file papers at the courthouse to start the process for a judge to decide the issue. I recommend that you all compromise and go forward.
Good luck.
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