Legal Question in Wills and Trusts in New York

For 5 years I received estate income based on an letter from estate attorney which stated my percentage and amount.I never received any returns or other financials.After 5 years I accepted a lifetime buyout based on that income.

One year after the buyout I received 5 years worth of returns and an agreement settling the estate for my signature showing .The amounts on the returns was less than I received.The estate promptly paid me the difference from the initial 5 years.

I asked the that my lump sum buyout be adjusted since I negotiated 6 times times my annual as a buyout.I never received any financials.They have refused.

Do I have any legal standing?


Asked on 5/20/11, 9:38 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

I am not sure how and why you received income from the estate and what amount or percentage you are entitled to receive. The document creating the income stream needs to be reviewed. That said, as you are entitled to income, however calculated, you have the right to see all documents and returns and other necessary information on which or from whom which the income you receive is properly calculated and accounted for. The failure to produce this documentation should allow you to seek court assistance in getting this information. Also, can the offered buyout be legally done? Does the document allow for and authorize this? Much more information needs to be obtained for a better, more complete response. 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.

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Answered on 5/21/11, 9:19 am


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