Norwich bulletin., 1921-06-30
PLANT EXECUTORS CLAIMS
 OPPOSED BY STATE COMMISSION

OPPOSED BY STATE COMMISSIONER
 Carlos Holcomb, deputy state tax com missioner, was one of those appearing before Probate Judge Arthur F. Ander- son of Groton to oppose the claims of the three active executors of the Nor ton F. Plant estate to allowances of SSoO,o00 for their services as executors of the s33,oO0,OoO estate. The United States Trust Co.,, George L. Shearer and Francis dec. Sullivan, all of New York. are the three executors, whose claims to such compensation are being disputed | | by Commodore Plants widow, now Mrs. 1 Mae Caldwell Plant Hayward. | tlduciaries are not expected to man. 1 age estates for a profit" said Mir. HoI- | comb in his argument before Judge An i derson. If testator wanted them to | i make a profit on his estate he would | leave the money outright as he did in this case to MT. Sullivan. Fiduciaries l are to be. paid for their services which | they actually render the estate. This l does not mean the larger the estate the larger the compensation. It means that i services should be paid for what the services are worth. There is no law or understanding in Connecticut that com | pensation of executors shall be based on l percentage of estates. That scheme was
 killed in the legislature several times
 and 1t is evident that Connecticut does
 not want compensation fixed on that ba-
 sis.
 "The things that on executor may be
 pal dior is his time and his expenses.
 In the case of the Plant estate whenever :, the executor had expenses they were : paid for. Whenever they needed expert advice they got it and they paid well for , 1t, too. So all they are entitled to is
 their time or actual services Outside r, what they hired to be done and paid for l consider that their work was not ex- traordinary-in fact I consider it less
 than ordinary.
 a half of time; MT Shearer a total of i seven-eights of a year and the United V trust Co. a very small fraction of it's f time MT Sheldon, president of the
 states Trust Co.,, a very small fraction of , It's time. MT. Sheldon, president of the ', trust company. said that he was hand ling hundreds of other estates during the :, same period. The Plant estate was
 merely an incident in the business of the
 United States Trust Co., and they want I almost as much from this estate as they
 charged for the hundred or more other
 estates combined.
 Executors are supposed to protect ar
 estate and not present excessive claims against it. The enormity and absurditJ $ of their claims is apparent At seven. > eights of a year Mir Shearer is asking l. compensation at the rate of s345, 900 g T year, and the total which he and his law l. firm which is counsel for the trust com. d pany, would receive would be Se9o 900 o pretty good income for one estate. The state of Connecticut is watch H. ing you, Judge Anderson, to see wha- > you allow to the men in whom the deat u reposed confidence in handling his estate le and I expect you to render a just yer
 dict in this matter of compensatio tion ant 7, protect the estate from any such ridi ll culous charges"
 Mir. Holcomb is interested in view O
 the fact that whatever is allowed tn,
 executors and for administration ex-
 penses of the estate, is deducted iron Y the amount on which the estate will pay of taxes to Connecticut.
 " Attorney WhittIesey's Argument d In opening the arguments for the ex in ecutors Attorney Charles B. whittlese. K declared that the amount of $500 0o
 for each of the three executors Is flair S. reasonable and just" He reviewed a le length and work done by the three wh a. were appointed by all five executors a Id committee to handle the estate at tn e. first meeting held by all m He said that there were many compli a cations and it required ability goo d. business judgment and a lot of care ct rul study To carry the burden and shoul ,t der the enormous details.
 . The other two executors, Henry F
 Plant and Mrs. Hayward did but little O
 the actual work. and Henry B. Plant 1
 satisfied to have the allowances mad
 as per request.
 N 'Nr Moves says it is presumptuous fo ,,o us to name any amount. He fails t ~. m name any amount" Judge Moves inter '. ruDted to say that he will not nam ,,a any amount, except he may suggest a we amount.
 IT. ''The amount of ssOo. 900 is a little les iiS than per cent. of the gross estate $S3.oo0000," said Attorney WhittleseJ or He then proceeded to read a long Ii, Ter of estates in Connecticut and Massa chl ,'e setts, New York and New Jersey. whei ne the amounts allowed executors were z d all the rate of about 1 per cent of the gro: he estate.
 "The just compensation Is alway
 based on the amount of the gross estat If settlement is easy a little less tha bls 1 per cent. Is allowed. or one fee ft ec- all the executors If hard to settle, ort little more than per cent"
 In handling this big estate the ex 'rd cutors lost only s65ooo on sale of S 50. curities and made this loss up throus to- increased value in real estate"
 Judge Noyes' Argument
 Judge Walter c. Moves, who is an a f torney for Mrs. Hayward, said that u tie will of MT. Plant provides for a tru
 to run during the life of Mrs Ha 7i1- yard and for 20 years in the case 50. Philip Plant. It is unfortunate tn;
 there is a feeling between the execute nm and the benehciaries.
 Tt seesns entirely ridiculous for the