Legal Question in Wills and Trusts in New York
coexecutors
There are coexecutors of an estate. Can the escrow account for the estate be closed out by only one of the executors.
Asked on 6/16/05, 6:52 am
1 Answer from Attorneys
Walter LeVine
Walter D. LeVine, Esq.
Re: coexecutors
This depends upon how the account was established. Was it set up that any one could act alone, or both had to sign checks? Further, it depends on reasons for closing the account. Do the executors have to account to anyone? What was the purpose of the account? If closed, what is to happen to the funds? More information is needed to give you an accurate answer.
Answered on 6/16/05, 10:44 am