Legal Question in Wills and Trusts in New Jersey
Refunding Bond and Release
I signed Refunding Bond and Release and an approval of acounts and release of executors and trustees for a trust where I am a beneficiary. It has been seven months and I sitll have not received the money. Is normal?
2 Answers from Attorneys
Re: Refunding Bond and Release
No, what you describe is certainly not normal. After the trust/estate accounting has been approved and the release has been signed, the distribution normally follows very quickly...Typically no more than a few days or weeks.
The fact that you say it's been 7 months makes me concerned that there is a problem. Perhaps one or more of the other beneficiaries has refused to sign the release? [you don't say if you are the only beneficiary].
I think you may want to retain an attorney to find out what's happening.
Re: Refunding Bond and Release
I agree with Jon that something is amiss. Have you inquired of the Executor or Trustee what is holding this up? In this amount of time, you should have received a status report, even if it explains why there has been a delay. If you need assistance, contact me directly.
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