Legal Question in Wills and Trusts in New Jersey
My father died 2 years ago Nov.1,2207. My brother and sister are the executors and I just got papers from our attorney to sign off on final distribution. My question is that if I sign off on the more simpler and inexpensive one I'm not sure of 2 of the things I am signing and want your advise. 1.The administation of the estate by the executors, including all receipts, disbursements, disributions, sales of investments, retention of investions, and purchases of investments, is approved. (I never got to see any receipts or price that my brother sold the fidelity stock for and aske dhim 3 times for in but never gave to me.) #2. The distribution set forth in the propsed schedule of final distribution as of October 6, 2009, is hereby approved and accepted in lieu of a more detailed accounting.(By me signing this means I can never see what things sold for??0
3 Answers from Attorneys
Based on your question it appears as though the executors are asking you to approve an informal accounting and give them a full realease and discharge.
If you believe they have acted improperly, or if you want more information, don't sign anything until you have had your attorney review all the documents they want you to sign. The cost for such a review should be relatively minor, and if there is a problem with the executor's accounting, it could save you significant dollars.
Most estates are finalized with an informal accounting, rather than a formal accounting. You are being asked to approve an informal accounting. You do not have to sign anything until you are satisfied with what has been presented to you. On the other hand, the informal accounting may be perfectly fine. I suggest that you explain to the estate's attorney that you would like more information before you approve the informal accounting, and ask specifically for what you would like to see. Then you can better evaluate the informal accounting. My office in Mount Laurel is near you. If you would like to call me, I would be happy to assist you with reviewing the documents and protecting your interests.
I agree with the other autrhors and it sounds like the informal accounting you received is incomplete. I suggest not signing any documents and contacting the attorney, raise your questions and request they provide the missing infomration. If they refuse, you can go to Court to compel them to provide it.
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