Legal Question in Wills and Trusts in New York
What does this mean: If distributee or residuary legatee approves the accounts of said representative at presented in writing to the undersigned, including fiduciary commissions in the sum of (a specific sum) and attorney+s fees and disbursements in the sum of (again the specific sum). This is a condition I am to sign from my deceased parents estate. Does it mean the specified amount will be deducted from my portion of the estate.
1 Answer from Attorneys
To me, it means you are being asked to approve an accounting by an executor or administrator, including fiduciary fees. Not having seen what you have been prese3nted with or not knowing what the estate consisted of and what is your interest in it, answering your last question is difficult. If you are the sole heir, expenses of the estate and fiduciary commissions and attorney fees would be payable by the estate, and reduce your share.