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However, the estate reported total income of only $2,844,738 for
1998-2002 on its Forms 1041, U.S. Income Tax Return for Estates
and Trusts, for tax years 1998-2002.
On May 1, 2003, the estate prepared a draft fiduciary
accounting which states that the estate paid $37 million from
principal to administer the estate. As of October 8, 2003, the
executors had paid legal expenses to three law firms and
consulting fees to two firms totaling $4,507,723.
On November 24, 2003, the executors changed the amount of
administration expenses allocated to estate income from $1
million to $4,507,723.
G. Surrogate’s Court Proceeding With Respect to Amount of
Compensation Due to Bergreen
Bergreen and Moody as executors filed a petition on a date
not specified in the record in the Surrogate’s Court of the
County of New York seeking approval of the amount of Bergreen’s
compensation. The Surrogate’s Court supervised negotiations in
May 2003 between the State attorney general’s office, Bergreen,
and the independent directors of the foundation, in which the
parties agreed that Bergreen would be paid $12.5 million.
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