Legal Question in Wills and Trusts in New Jersey

Refunding Bond Part 2
Sorry to repost and I appreciate the fast response but your answer led to another question.
The original question was :
In a will, I was given a lump sum and a share of the final estate. I just received a refunding bond to notarize, sign and return that lists the lump sum but has no reference to the estate shares.
The answer said that was normal (yay!) and that I would be sent a release and accounting later. In looking at the rfunding thing again, it says ''Whereas the exutrix has accounted with me for all money and estate due unto me, as in said will, and has paid to me the sum of ''lump sum'' here in full payment.
The next paragraph says I acquit, release and forever discharge the executrix from everything pertaining to the will.
It's docket title says executor's release and refunding bond.
This sounds like the thing mentioned in the answer you gave that I would receive when things were fully settled.

Sorry again to bother you, it's just that anything with the word final is a bit unnerving yet I also do not want to stand in the way of any necessary proceedings.

Asked on 1/04/07, 2:23 pm

3 Answers from Attorneys

Bernard J. Berkowitz Berkowitz & Raiken

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Re: Refunding Bond Part 2

Again, you need legal advice and a lawyer to actually read the Bond and the will before giving you proper advice. If you can't see the Estate lawyer, go see someone else with Probate experience. If our office can be of help, call for an appointment. If you mention Law Guru, the first half hour is free.

Answered on 1/04/07, 2:51 pm

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Walter LeVine Walter D. LeVine, Esq.

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Re: Refunding Bond Part 2

THE EARLIER REPLY WAS GENERAL, AS THIS WILL BE, BUT WITH SOME ADDITIONAL QUESTIONS THAT YOU MAY WANT TO REPLY TO, BY CONTACTING ME DIRECTLY. YOU APPARENTLY WERE MENTIONED IN 2 PLACES IN THE WILL, FIRST AS THE RECIPIENT OF A SPECIFIC BEQUEST (LUMP SUM) AND SECOND AS A RESIDUAL BENEFICIARY (GETTING A SHARE OF THE ESTATE) AS A RESIDUAL BENEFICIARY)? YOU IMPLY THAT THE REFUNDING BOND AND RELEASE, REQUIRED OF ALL PEOPLE MENTIONED IN THE ESTATE TO CLOSE IT OUT WITH THE SURROGATE, STATES (A) THAT YOU HAVE RECEIVED AN ACCOUNTING AND (B) THAT YOU HAVE DISCHARGED THE EXECUTORS FROM "EVERYTHING PERTAINING TO THE WILL." WHILE THE LATTER IS GENERAL LANGUAGE CONTAINED IN THE FORM, IT I8MPLIES THAT WHAT YOU ARE SIGNING FOR IS ALL THAT YOU WILL RECEIVE. APPARENTLY, IT WAS INTENDED TO COVER THE INTERIM DISTRIBUTION OF THE LUMP SUM, AND WAS NOT INTENDED TO COVER YOUR TOTAL ENTITLEMENT. IF THIS WAS THE CASE, THE LANGUAGE SHOULD BE MODIFIED. I USUALLY DO THIS REFERENCING THAT IT PERTAINS TO A PRELIMINARY DISTRIBUTION AND THAT A FURTHER DISTRIBUTION MAY COME UPON FINAL SETTLEMENT OF THE ESTATE. DID YOU RECEIVE AN ACCOUNTING WITH THE FORM? PROBABLY NOT? MY SUGGESTION IS THAT THE FORM BE REVIEWED BY AN ATTORNEY FAMILIAR WITH ESTATES, TO BE SURE YOU ARE NOT WAIVING ANY RIGHTS TO AN ACCOUNTING OR FURTHER DISTRIBUTIONS FROM THE ESTATE. I SUGGEST CALLING TGHE ATTORFNEY FOR THE EXECUTORS AND STATING THAT THE FORM MAY BE IN ERROR AND GET MORE INFORMATION. IF YOU GET NO RESPONSE OR ONE THAT DOES NOT SATISFY YOU, DO NOT SIGN THE FORM AND RETAIN AN ATTORNEY TO ASSIST YOU. THIS IS A RESPONSE TO AN INTERNET QUESTION AND THE REPLY IS NOT INTENDED TO BE LEGAL ADVICE OR AS CREATING AN ATTORNEY-CLIENT RELATIONSHIP. OMITTED OR MISSING FACTS COULD CHANGE THE REPLY.

Answered on 1/04/07, 2:53 pm

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