Our Executor received 2.5% commission from the estate when it was open. It has since been closed and then a Trust was opened in it's place. The Executor became Trustee and we renegotiated his fee to 1% commission under the terms of the Trust.
Recently we received a refund for a matter that was generated when the estate was open. Is he entitled to the 2.5% commission for this refund because it was generate while the estate was open or should he just received the 1% under the current Trust agreement?
This issue is causing the Trustee to refuse distributing the refund to us beneficiaries. It's been 5 weeks now we could of had this disbursement and obviously it would be extremely appreciated and due to the holidays I'm sure, very well needed.
Which commission rate applies to this refund?
Are there any known statutes, rules or any other writings on this subject?
If so could you please send me the kink to the page it’s on?
Is it even legal for him to withhold this disbursement under these conditions?
He has even admitted that the commission rate is the one reason he will not disbursing the refund.
THank you in advance for helping me.
1 Answer from Attorneys
You all have to act like reasonable adults and come to a compromise and move this forward. What does the original agreement say regarding the executor's commission? Regardless, you don't want to spend months of time and money on legal fees to come to a compromise which you could probably agree to in a half hour if you all just sat down to discuss the matter.