- 26 -
determined by reference to the amount of property subject to
administration (i.e., probate property). The parties agree that
the value of decedent’s probate property as of the date of his
death was $500,738. Under Md. Code Ann., Est. & Trusts, sec.
7-601(b), the maximum amount of commissions allowable to Mr.
Tehan, the estate’s personal representative, was $19,107,22
calculated as follows:
9% x $20,000 = $1,800
3.6% x $480,73823 = 17,307
Total = 19,107
The June 29, 2001 order of the Orphans’ Court allowed the
estate’s personal representative commissions of $32,000. That
amount exceeds the maximum amount of commissions allowable under
Md. Code Ann., Est. & Trusts, sec. 7-601(b). We are not required
to accept the June 29, 2001 order of the Orphans’ Court allowing
$32,000 of personal representative’s commissions. Sec. 20.2053-
1(b), Estate Tax Regs.
On the record before us, we find that the estate is not
entitled to deduct personal representative’s commissions in
excess of $19,107, the maximum amount of such commissions allow-
22Respondent agrees that the maximum amount of commissions
allowable under Md. Code Ann., Est. & Trusts, sec. 7-601(b) to
Mr. Tehan, the personal representative of the estate, was
$19,107.
23The value of decedent’s probate property reduced by
$20,000 is $480,738.
Page: Previous 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 NextLast modified: May 25, 2011