Legal Question in Wills and Trusts in New Jersey

Questionable handling of estate

One of my siblings is the executor of my mothers will for small estate, under $200,000, including a home. There are a number of siblings to share in the estate. There is a small estate bank account which has been used for materials to upgrade the home but also has had loans taken from it for certain family members. The executor has been very evasive about the status of the account and many questions are arising from those actions. What are the legal/ethical boundaries to their access to the account? Will they have to explain all activities to the account at the end of this? What can we do if it is mismanaged?


Asked on 1/05/02, 2:24 pm

1 Answer from Attorneys
Steven Tarta Steven Wayne Tarta, Attorney At Law

Re: Questionable handling of estate

The executor of an estate in NJ must prepare and submit for approval an "accounting" of all assets coming into the estate, any income, any expenses and proposed disatribution. This accounting must be approved by all beneficiaries; the executor has a fiduciary responsibility to properly handle the estate or his/her actions can be reviewed by a court of competent jurisdiction

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Answered on 1/05/02, 3:08 pm


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