Fiduciary Ordered to Repay Fees

Fiduciary Ordered to Repay Excess Legal Fees and Commissions with Interest

New York County Surrogate Rita Mella recently issued a decision ruling that

an estate fiduciary must refund any amount in excess of the legal fee allowed by the court

In this contested judicial accounting proceedings The Court ordered the trustee to refund commissions previously taken. The court stated a four percent annual interest would accrue on commissions, and legal fees to be repaid, and nine percent from the date of the decision to entry of decree.

Legal fees in estate matters are subject to the approval of the Court if contested by any party.  Commissions paid to a fiduciary are set by statute but can also be contested by any party

Matter of Colt