Legal Question in Wills and Trusts in New York

Final Accounting

Beneficary of non-probate accounts of passed mother. Shared some funds with siblings. Now they are requesting a final accountng of monies received. Must I provide this to them?


Asked on 1/02/07, 11:24 pm

1 Answer from Attorneys

Walter LeVine Walter D. LeVine, Esq.

Re: Final Accounting

I am presuming that you received accounts due to joint registration, and that the registration was done so you could receive the assets (separate from your siblings), not merely as an accomodation to your mother so, for example, you could pay her bills, etc. If this is the case, you have no duty to account to them, as you have gratuitiously shared the assets with them, but not necessarily equally. However, if it was not your mother's intention that you receive the assets exclusively (despite what you did), they are entitled to an accounting. 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. Omitted or missing facts might change the response.

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Answered on 1/03/07, 12:24 pm


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