Sinnott's Estate
Sinnott's Estate
Opinion of the Court
The testator appointed five executors of his will and had an agreement with one of them — the Fidelity Trust Company — as to the compensation it should receive for its services. On this appeal the question is as to the commissions to which the other four are entitled on the corpus of the estate, amounting to $2,503,099.95. They are to be allowed “just and reasonable compensation” for their services : Sinnott’s Est., 224 Pa. 333. They asked credit in their account for commissions at the rate of three and one-half per cent on the principal of the estate, and, in sustaining an exception filed by the appellant to this item, the learned judge below, in his adjudication of the account, reduced the commissions to two and one-half per cent, saying: “We have given the matter careful consideration, and have reached the conclusion that the four executors, under all the circumstances, will be reasonably compensated within the meaning of the law if they receive two and one-half per centum on the corpus of the estate. This, with the compensation of the Fidelity Trust Company, the
Reference
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- Status
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- Syllabus
- Executors and administrators — Compensation—Commissions. A commission of two and one-half per cent upon the principal of an estate of $2,500,000 is a proper compensation to four individual executors, where the compensation of the fifth executor, a trust company, was fixed by a contract made by the testator in his lifetime at one and one-half per cent upon the principal.