Legal Question in Wills and Trusts in New York

Re: Disbursing of Assets

I never can understand why people give such short answers to these types of questions. You should have gotten notice of the appointment of the Executor and a copy of the Will. While there is no time limit on how things are done, if there are no potential estate or inheritance taxes due, there could be a preliminary distribution of assets other than the real estate, unless the other assets are needed to carry the real estate until it is sold. While one of the heirs is residing in the house, unless the Will has allowed for this, my opinion is that the house and car are to be treated like rental property and some contribution to their costs and upkeep made by the person using them. This is not within the discretion of the Executor, unless the Will so provides. At least as a courtesy to you, these decisions should have been discussed and you could ask for rent to be paid, or could be given the option of waiving it. What has been happening with the mutual funds? Have they been holding their price, or going up or down? If going down, your brother has a risk that he could be surcharged for any loss incurred. I suggest asking for a family meeting so these issues can be discussed and resolved. You should be given a copy of the Will before the meeting, so you can be familiar with it, and ask any relevant questions. This is a response to an Internet question and the reply is not intended to be legal advice or to create an attorney-client relationship. Missing facts could result in a different reply.

Re: Disbursing of Assets

You need to retain counsel to protect your interests.