Legal Question in Wills and Trusts in New Jersey

When should an informal accounting start? Does the executor need to account for money from the estate prior to the death? An informal accounting should start from the time the executor took control of the assets?

We are heirs to 2 estates a husband who passed first and his assets went to a trust for his wife, and now she has passed. There is no indication of where assets went between his death and hers. Now little indication except who has received a distribution from the estate and how much.


Asked on 5/05/11, 12:22 pm

3 Answers from Attorneys
Larry Raiken Larry S Raiken LLC

There should be separate acountings for each estate. You might want to call me and set up an appointment to discuss this matter.

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Answered on 5/05/11, 12:32 pm
Robert Davies The Davies Law Firm, P.A.

This does not sound right at all. There should be an executor who may also be the trustee of the trust (or maybe they are separate people). The executor has to explain what happened with the money of the husband's estate after his death. You should be able easily and without fuss to get an explanation; almost everyone keeps records on computer, so you can just print them out.

It might take a letter from a lawyer demanding a simple written accounting to get the answers you are looking for.

I see that you are not in New Jersey. No problem, I can help you.

I have handled many situations like yours.

Give me a call, make an appointment to come see me, and let's get moving on this for you. No charge for the telephone call and discussion.

Robert Davies, Esq. 201-820-3460

The Davies Law Firm, P.A.

45 Essex Street, Suite 3 West

Hackensack New Jersey 07601

Phone: 201-820-3459

Fax: 201-820-3461

Email: [email protected]

Website: AttorneyRobertDavies.com

Please keep in mind that my response is just a general comment on your question, and not legal advice. Your question and any response does NOT create an attorney-client relationship between you and this law firm. The exact details of your situation and things that you have not mentioned in your question can completely change the response I gave. You can not rely upon what I have written, because I do not have all of the information that I need to advise you, I only have the very small amount of information that you put into your question. To get legal advice that you can rely on and use, please contact me directly. I would be happy to assist you.

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Answered on 5/05/11, 12:34 pm
Jonathan Chester The Law Office of Jonathan S. Chester, Esq., LLC

Each "entity" should account:

1. Husband's estate;

2. Husband's trust for wife's benefit;

3. Wife's estate.

Depending on how much time has passed, you may have statute of limitations issues to deal with in #1, but the other two should have to account to the respective beneficiaries.

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Answered on 5/05/11, 12:44 pm


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