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My fathers will states that the attorney and the executor

 
John Elder's Avatar
  • Answered by:John Elder
  • Estate & Elder Law
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Customer Question

My father's will states that the attorney and the executor are compensated as a percent of "distributable assets". They calculated this by by using gross assets, before liabilties and taxes. This makes their share as high as possible. Shouldn't "distributable assets" be calculated by subtracting liabilities and taxes to come up with the assets that are distributed to heirs?

 

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Country relating to Question: United States
State (if USA): Pennsylvania

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Submitted: 311 days ago.
Category: Estate Law
Value: $48
Status: CLOSED

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Expert:  John Elder replied 311 days ago.

Welcome! Thank you for your question.

 

Normally it would be gross. However, it does appear that the will does limit the compensation to distributable assets. A will restriction controls over state statutes. You are correct that the compensation should be limited to assets distributed to heirs after court costs, taxes and other liabilities are paid.

 

 

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Expert TypeEstate & Elder Law
Category: Estate Law
Pos. Feedback: 98.6 %
Accepts: 1439
Answered: 6/22/2012

Experience: Over 14 years experience in Medicaid, Estates, Trust.

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