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decedent died. Bergreen was not entitled to compensation by the
estate under article 10.
Article 12 provides that, if the executors sell Gilman Paper
Co. while Bergreen is an executor, Bernard D. Bergreen, P.C., is
to be compensated for services rendered in connection with that
sale. The estate contends that Bergreen is entitled to be paid
by the estate under article 12 because the executors agreed to
act as managers of the assets of HG and its subsidiaries to allow
the executors to maintain control over the Gilman assets. The
estate also contends that HG and its subsidiaries were created to
effect the executors’ sale of the Gilman assets, and that
Bergreen retained complete control over the sale of those assets
after their transfer to HG and its subsidiaries. We disagree.
As a result of the transfer of assets from the estate to HG
and its subsidiaries, the estate no longer owned the Gilman
assets; HG and its subsidiaries did. Because the sale occurred
after the restructuring, Gilman Paper Co. was sold by HG (not the
estate). Bergreen and Moody rendered services in connection with
its sale in their capacity as managers of HG, not as executors of
the estate. Thus, Bergreen was performing services for HG, not
the estate. Bergreen was not entitled to compensation by the
estate under article 12.
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