Legal Question in Wills and Trusts in New Jersey

My older brother is executor of my mother's estate. Both my older brother and mother reside(ed) in New Jersey, three other siblings including myself live out of state. The executor sent a Refunding and Release Bond to be signed and notarized as a means of distributing 80% of the estate while retaining 20% to be used for federal and state taxes in the Spring of 2018. He stated any remainder will be distributed after taxes are paid. There is no place on the Refunding Bond and Release form that states or provides for preliminary or partial distribution plus it also forever releases the executor. There has been no estate accounting. My fear is that the remaining tasks to close the estate may not be accomplished and by signing the form we have no recourse and all the liability of settling the estate. I am in favor of waiting until after taxes are paid and the estate truly settled to sign the form and receive the distribution. My 2 other siblings want their money now. and are pressuring me to sign the form now, I do not feel comfortable signing at this time. What is the best recourse?


Asked on 9/15/17, 6:56 am

1 Answer from Attorneys
Miriam Jacobson Retired from practice of law

Didn't the document you were asked to sign include some kind of informal accounting showing what was in the the estate, what the debts and expenses were, and what each of the distributees was getting as part of the first distribution? If you didn't get something like that, ask for it before you sign. Otherwise, it sounds like a prudent approach.

You may also want your own estates lawyer to look at anything you receive before you sign.

THIS RESPONSE IS NOT LEGAL ADVICE, SINCE I DO NOT HAVE ALL OF THE INFORMATION THAT WOULD BE REQUIRED, AND I DO NOT HAVE A REPRESENTATION AGREEMENT WITH YOU.

* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.

* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.

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Answered on 9/15/17, 8:07 am


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