What is the name of your state (only U.S. law)? Louisiana
My family is going through succession of an estate in Louisiana. Attorney is charging a 3% fee of the estate value to complete the succession. The executrix of the estate is, as dictated by law in Louisiana, able to be compensated 2.5% of estate value. Executrix is an heir to the estate. Executrix is taking the 2.5% to pay attorney fees. Please correct me if I am wrong, the estate still pays 2.5% of attorney fees, which ultimately the heirs will pay. The executrix will still have to pay .5% of attorney fees. Also, the executrix will have to pay taxes on her 2.5%. Would I be correct in thinking this is absolute stupidity or am I missing something?
My family is going through succession of an estate in Louisiana. Attorney is charging a 3% fee of the estate value to complete the succession. The executrix of the estate is, as dictated by law in Louisiana, able to be compensated 2.5% of estate value. Executrix is an heir to the estate. Executrix is taking the 2.5% to pay attorney fees. Please correct me if I am wrong, the estate still pays 2.5% of attorney fees, which ultimately the heirs will pay. The executrix will still have to pay .5% of attorney fees. Also, the executrix will have to pay taxes on her 2.5%. Would I be correct in thinking this is absolute stupidity or am I missing something?