Legal Question in Wills and Trusts in New York
discovery of assets long after an estate is settled
Background for the question: My father and mother died in 2002. At that time, and as far as anybody knew (including the estate attorney and executor) the estate was completely liquidated and settled among three surviving children. Five years later, funds have been found belonging to my deceased father. In the five years between settlement of the estate and now, two siblings have died (leaving me the only remaining child), the estate attorney has died and the executor has died. I discovered his funds on New York State's unclaimed property listing. There are also 5 of my father's grandchildren living.
My Question: Am i under any obligation to inform my father's grandchildren of the newly discovered funds ? Am i under any obligation to share these funds with them ?
1 Answer from Attorneys
Re: discovery of assets long after an estate is settled
Your question relates to a prior probate where after discovered funds were not addressed. These funds are subject to distribution in accordance with the last will and testament of the decendent, otherwise by intestacy. If real estate is not involved then the probate can be received by any court of competent jurisdiction. Contact me to discuss.
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