- 33 - estate. Were we not to make this allocation, decedent’s gross estate would be increased by the repaid fees, which in essence would cause the $247,500 to be taxed twice.11 2. Amount Distributed to Glovers Under Plaintiffs’ Agreement We now turn our attention to whether any part of the $750,000 settlement should be allocated to the Glovers’ claim, which would have the effect of reducing decedent’s interest in the malpractice claim. The only claim made in the lawsuit that relates specifically to the Glovers (rather than to Eckell, Sparks’s malpractice in the preparation of the will or in connection with the administration of the estate) is count II. In count II, the plaintiffs claimed that Eckell, Sparks was liable for $340,270, together with interest and costs for attorney’s fees incurred by the Glovers in contesting decedent’s will. The trial court dismissed this claim, with prejudice, finding that the Glovers lacked standing to assert the claim. The court additionally found that the claim could not be asserted separately but rather was a component of the damages resulting from the malpractice, if any, committed by Eckell, Sparks in preparing the will. (Damages resulting in the malpractice, if any, committed by Eckell, Sparks in preparing decedent’s will 11 Decedent’s estate agrees that attorney’s fees of $247,500 paid to Eckell, Sparks that the Orphans’ Court ordered be returned to the estate are not deductible as administrative expenses under sec. 2053(a)(2).Page: Previous 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 Next
Last modified: May 25, 2011