You are here

AG challenges estate fees to protect out-of-state charity

AG challenges estate fees to protect out-of-state charity

AG challenges estate fees to protect out-of-state charity

When Ronald Weeks died in Illinois in 2008, David W. Hammer was appointed independent executor as required by Weeks’ will, and Hammer appointed Thomas L. Brucker as his attorney to help administer the estate. The gross value of the estate was slightly over $4 million, although only about $3 million was subject to probate. The assets consisted primarily of a $2.5 million farm, a house, and some cash, certificates of deposit and personal property. The executor decided to auction off the farmland in two parcels and recovered about $2.5 million, about 25% more than the initial appraisal. The attorney charged $50,000, about 2%, for his services on the auction. The executor and the attorney also...

lock The full text of this article is available to paid subscribers only. Login or subscribe to read more

 

Sign-up for our weekly Q&A; get a free report on electioneering