Legal Question in Wills and Trusts in New Jersey
''Final Account'' of estate
On the ''final account'' the attorney states that there is 5k left in the (one) bank account (another account holds 64k in savings). Says there are zero funds to cover benificiaries in the will (supposed to recieve 5k a piece). Question, the POA/Executrix was extremely active in visiting the bank while the person was still alive during the last year of his life, and the year following. What way can we have her steps traced to see if she took liberties with the assets?
Strangely, the ''new'' will was drafted up after the person had a major stroke, a 5 bypass, and was under 50 medications, a fews months before his passing This estate totaled 500k.
5 Answers from Attorneys
Re: ''Final Account'' of estate
The estate beneficiaries are entitled to an accounting from the executor {which it looks like you already have} and also from the Attorney-in-fact for pre-death financial transactions.
You also may have a claim that the Will was invalid based on lack of capacity [but depending on how much time has passed since the Will was admited to probate, you may be barred by the statute of limitations to contest the Will at this point].
The beneficaries should NOT sign off on the estate accounting until they have been provided with all the pre-death records from the Attorney-in-fact.
Re: ''Final Account'' of estate
you may request all accounting from the POA and if they refuse you can file an action on behelf of the beneficiaries claiming breach of the POA's fiduciary duties and then all the documents will come out in discovery.
Re: ''Final Account'' of estate
This is quite a mess, and may lead to an even messier Court battle.
You can get both pre-death and post-death accountings for the estate, but it sounds as if you are going to have to institute legal proceedings to get all the info you are looking for, and to potentially challenge the Will itself. If you need more information, don't hesitate to get in contact.
Mike
Re: ''Final Account'' of estate
This is quite a mess, and may lead to an even messier Court battle.
You can get both pre-death and post-death accountings for the estate, but it sounds as if you are going to have to institute legal proceedings to get all the info you are looking for, and to potentially challenge the Will itself. If you need more information, don't hesitate to get in contact.
Mike
Re: ''Final Account'' of estate
This is quite a mess, and may lead to an even messier Court battle.
You can get both pre-death and post-death accountings for the estate, but it sounds as if you are going to have to institute legal proceedings to get all the info you are looking for, and to potentially challenge the Will itself. If you need more information, don't hesitate to get in contact.
Mike
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